CMBS Originations vs. Capital Markets

Tego987's picture
Rank: Baboon | 153

I was wondering if anyone could speak to the CMBS Originations vs. CMBS Capital Markets teams at top BBs (GS, JPM, Citi, CS, etc). It is my understanding that the Originations team does more of the diligence and evaluation of the properties to include in securitization while Capital Markets is tasked more knowing where things are trading in the secondary market and where to price, correct?

If so, could anyone speak to deciding between either opportunity? Seems like a lot of overlap. Things like best suited skills in each, exit ops, and pay from Analyst on up vs. traditional S&T or IB would be great to hear.

Comments (5)

Feb 11, 2019

Hey Tego987, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...

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  • More suggestions...

Fingers crossed that one of those helps you.

Feb 15, 2019

Cmbs volume on pace for big drop in quarter, from today's CMA

Better look elsewhere

Feb 15, 2019

Surely picking a desk based on 1 quarter and trying to time the market is a bad approach, no?

    • 1
Feb 15, 2019

Cmbs volume in 2007 >$300B

Cmbs volume last year <$90B

Cmbs forecast this year ~80-90B

We hire Morgan Stanley and Goldman to be our lead manager and bookrunner, that's actually their main job
These banks only do 1-3 of their own deals per year while we do over 80 deals in a year

Feb 15, 2019
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