UBS Investment Bank and Citi were the top commercial real estate securities underwriters of 2007, according to SNL Financial.

SNL’s analysis reveals that UBS served as an underwriter for a total of 15 separate REIT and real estate operating company common stock offerings with deal credit totaling more than $1 billion last year. Citigroup underwrote more than 20 offerings of senior debenture securities with deal credit totaling $3 billion during the same period.

Other active underwriters were: Banc of America Securities LLC, with 15 common stock offerings for nearly $730 million and 25 offerings of senior debentures for $1.75 billion; JPMorgan Securities Inc., with 6 common stock offerings for $721 million and 20 senior debentures offerings for $2.8 billion; and Morgan Stanley, with 10 common stock offerings for $851 million and 15 offerings of senior debentures for approximately $2.1 billion.