Inside the CRE securitization market: Trends, risks, and optimism ahead

Despite elevated distress levels and refinancing risks, investor appetite for CMBS and CRE-CLOs remained strong through the first half of 2025. Andrew Foster, Senior Director of Business Development at KBRA, talks to us about what’s happening in the US CRE securitization market, and covers a wide range of topics from CMBS issuance trends to sector performance and the rise of private credit. For lenders and borrowers navigating today’s capital markets, Andrew offers practical insights into what’s changing, why it matters, and how to prepare for the quarters ahead. Key Moments:02:02 Understanding KBRA and Andrew's role03:45 Current market trends and issuance06:40 Investor appetite and market dynamics08:41 Private capital and non-bank lending10:52 Regulatory and policy changes15:07 Future outlook and optimism in CRE finance17:42 Data centers and AI in CRE financing21:11 The importance of CMBS22:31 Diversity in CRE leadership23:23 Closing remarks and follow-up Resources Mentioned:Andrew Foster: https://www.linkedin.com/in/andrew-foster-cmbs/KBRA: https://www.kbra.com/Real Estate Issues: https://cre.org/real-estate-issues/Email us: [email protected] for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property