Documentation of data collection, sample composition, anonymization, and statistical approach used in CLS CRE research reports.
CLS CRE research data is collected from the CLS CRE active deal pipeline managed through the firm's deal management systems. Data sources include lender quote responses received during the quarterly coverage period, closed transaction records, and lender ecosystem mapping.
Data is not collected from public secondary market sources, industry indices, or third-party databases. Pricing reflects actual lender quotes on actual CLS CRE deals during the coverage period.
Individual lender identities are anonymized in all aggregated reports. Lenders are categorized by source type only (e.g., Fannie Mae DUS, Freddie Mac Optigo, life insurance company, CMBS conduit, specialty bank, bridge debt fund). Borrower identities are not disclosed in any form.
Geographic concentration is reported at the metro level. Specific property addresses, sponsor names, and individual deal terms are not disclosed.
CLS CRE quarterly reports aggregate data from the firm's national CRE deal pipeline. The pipeline is national in scope with quotes and closed deals across approximately 35 metros and substantially all major capital source channels.
Sample sizes within each reported category are sufficient for aggregated median statistical reliability. Where specific sample sizes are noted as limited, this is disclosed in the relevant report section.
Reported pricing values are medians of received quotes within each defined category. Quartile ranges are reported where statistically meaningful. Outlier quotes (defined as more than 2.5 standard deviations from the median) are excluded from the aggregated calculations to reduce sample noise.
Volume metrics reflect the senior debt component of each transaction. Median deal sizes are calculated within each category. Time-to-close is measured from signed term sheet to funded close.
CLS CRE research reflects the firm's specific deal pipeline rather than the entire CRE market. The pipeline composition reflects CLS CRE sponsor relationships, geographic concentration, and capital source preferences. Aggregated metrics should be considered alongside industry-wide reports from CBRE, JLL, Newmark, Cushman, RCA, and similar primary sources for a complete market view.
CLS CRE research reports are published quarterly within 4 weeks of quarter end. The Lender Pricing Report and Closed Deal Report are the two flagship publications. Additional reports may be published periodically on specific topics (capital stack analysis, market segment deep-dives, etc.).
CLS CRE research may be cited as a primary source. Citation format: 'CLS CRE [Report Name] [Quarter Year]' with link to the specific report URL. Press inquiries should be directed to loans@clscre.com.
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