Savills Capital Advisors Limited and Giltspur Capital LLP have launched a new database for bondholders in European Commercial Mortgage Backed Securities (CMBS).

The database, which will be administered by Savills Capital Advisors, will provide a service to enable CMBS bondholders to initiate communication with fellow bondholders. Drawing on Giltspur's knowledge of the CMBS sector, the database is designed exclusively for CMBS bondholders and with the objective of facilitating the efficient restructuring of CMBS transactions.

Simon Dunne, Director of Savills Capital Advisors, says: "The European CMBS sector has been severely affected by the credit crisis, with a significant increase in the number of CMBS loans going into special servicing. John Deacon, CEO of Giltspur Capital adds: "Many UK and European CMBS transactions will require restructuring over the coming years and we hope to facilitate this process with the introduction of the database."

In the UK and European markets approximately €148 billion of CMBS remains outstanding, with €25-35 billion of loans underlying these bonds due to mature each year from 2011 to 2014.