A recurring lender-by-lender CRE debt execution survey

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A recurring lender-by-lender CRE debt execution survey — the byproduct of a mortgage-brokerage desk that prices live requests every month against actual lender indications. Each edition carries a full cross-channel pricing grid: agency structured/adjustable executions (5.78%-6.03%) versus 10-year agency fixed (6.14%-6.84%); CMBS conduit tranche spreads (AAA 70 bps, A-S 100 bps, BBB- 415 bps) plus ten-year conduit coupon ranges (6.98%-7.50%) and origination spreads (175-225 bps); private-label CMBS and CRE CLO issuance running to $129.1B year-to-date (up 21% versus 2025) with a $136-140B full-year projection; structural mix (~75% of private-label volume single-asset single-borrower) and a term-tenor migration from 10-year to 5-year fixed; benchmark overlays (SOFR 3.65% to 3.88%, the Treasury curve at 5.09/5.19/5.29% across 5/7/10-year); and a leading distress indicator — receiverships and lender-driven sales rising ahead of transaction data, with office and apartments at about 70% of outstanding CRE distress. The proprietary core is the per-lender, per-channel achieved-cost grid held internally and refreshed each survey window; the published edition is a summary of it