Varde closes CRE CLO, while Fortress readies one

It is Varde’s second deal of the year, while it is Fortress’s second-ever commercial real estate collateralised loan obligation.

Varde Partners has closed its second commercial real estate collateralised loan obligation (CRE CLO) this year – a $462 million deal that follows one closed in February, the Minneapolis-based firm said in a statement.

The most recent CRE CLO consisted of a pool of 25 floating-rate mortgages with an unpaid balance of $457.8