Term Sheet: pbb reports on costly fallout of US exit, Nuveen and Schroders merger creates €10bn debt platform, CBRE says refinancing activity continues to dominate

pbb Deutsche Pfandbriefbank declares its exit from the US commercial real estate market is a costly exercise; Nuveen and Schroders merger creates €10 billion European real estate debt platform; refinancing activity continues to dominate lending activity, says CBRE; and more in today's briefing, exclusively for our valued subscribers.