Värde Partners Completes Record $1 Billion CRE CLO, Leading Market Growth

Värde Partners closes its largest CRE CLO to date at $1 billion.

VMC 2026-FL6 marks the firm's 13th commercial real estate securitization, structured with Wells Fargo as lead bookrunner alongside Goldman Sachs, Morgan Stanley, and ATLAS SP Securities.

The underlying pool covers 19 floating-rate mortgages backed by 40 properties across 16 states, with multifamily and industrial assets making up more than 66 percent of the portfolio.

The deal carries a 30-month reinvestment period, an advance rate of 88.625 percent, and a weighted average spread of Term SOFR plus 1.91 percent at issuance.

The close comes as CRE CLO issuance reaches $19.07 billion year-to-date through early May, roughly $7 billion ahead of the same period in 2025, per CRE Finance Council data.

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