CBA's groundbreaking $541 million commercial mortgage backed securitization (known in the market as CBA 1993 C-1) established the CBA brand in the real estate capital markets. The first transaction to utilize commercial mortgages that were originated expressly for the purpose of securitization, CBA 1993 C-1 opened the door to a new source of debt capital - global fixed income markets - for liquidity-starved and struggling U.S. real estate markets.

Starting from zero just over a decade ago, commercial mortgage-backed securitization ("CMBS") has since become a $90+ billion annual issuance market in the United States. The "best practices" established by 1993 CBA C-1 including standards for documentation, payment terms, environmental risk mitigation and financial reporting remain a cornerstone of the market.

As the influence of global capital markets on real estate was increasing, CBA was establishing its presence in the commercial real estate marketplace, and its human resources were growing. CBA assembled a team of highly experienced professionals, all of whom were cross-trained in capital markets and direct real estate asset investing.

CBA continued to focus opportunistically on the inefficiencies created by the rapidly growing convergence of real estate and capital markets. Over the next several years, CBA executed more than $3 billion of similarly innovative real estate finance transactions, including the 1996 $235 million leveraged buyout of Allright Parking; a 3.2 million-square-foot portfolio acquisition from Kemper; and a $184 million credit lease financing for Circle K Convenience Stores.