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From Bridge to Bond: CMBS, CRE CLOs and the Refinancing Test

20 Oct 2026
Coral 2
Track B: Mortgage & Real Assets

From transitional bridge loans financed through CRE CLOs to stabilised assets seeking permanent financing through CMBS, commercial real estate credit continues to face elevated refinancing costs, delayed business plans and uneven sector performance. Examining extensions, modifications, special servicing, valuation resets, sponsor execution and capital availability across both markets; and assessing where risk is migrating as borrowers and lenders seek viable exits, restructurings and term-financing solutions.

Chairperson
Luke Lu, Head of CMBS & CLO Research and Quantitative Modeling - LSEG
Speakers
Alan Todd, Managing Director, CMBS Strategist - Bank of America
Matt Lyons, Partner - Clifford Chance
Eric Rothfeld, Managing Director, CMBS, North America - Fitch Ratings
Lauren Sostowski, Director - PWC
View all ABS East 2026 Agenda