European issuers of commercial mortgage-backed securities are said to be testing the waters for CMBS as they see the recovery in the U.S. market taking hold. Analysts are skeptical, however, about the prospects of a CMBS revival in Europe, which they say has a completely different investor base from the U.S., and the European market is facing refinancing concerns as roughly €12 billion ($15.96 billion) of CMBS due to mature this year. One investor said a sale-and-lease back deal backed by a Dutch research and technology site is making the rounds, but he was not aware of any other CMBS in progress.

Click here to read the story from International Financing Review.