CMBS

Eleni Skordaki has joined Dechert's finance & reale state practice as partner in the London office.

Referring to the criteria for Prime Collateralized Securities as “a living construct,” the PCS initiative today said it had revised what determines whether a securitization receives this label of high-quality or not.

Deutsche Bank priced €355 million ($482.4 million) of bonds backed by three commercial mortgages secured by Italian properties, according to a person familiar with the deal.

Colony American Homes said it priced its second securitization of single-family rental homes with a duration-weighted blended interest rate of LIBOR plus 164 basis points.

Bank of America Merrill Lynch has launched a £210 million CMBS, Taurus UK 2014-1 that securitizes its loan to private equity firm Apollo EPF II Partnership.

Deutsche Bank has hired Dan Voloshin as a director in CMBS trading, said a person familiar with the move.

The $558 million deal is backed by a floating rate, interest-only, loan that has a two-year term with three 12-month extension options. The issuer has also removed its cap on the aggregate percentage of “eligible tenants” (defined as tenants with a 40% rent to income ratio) in the latest transaction.

Deutsche Bank is working on the €355 million ($482.4 million) DECO-2014 Gondola, the first European multi-loan CMBS since 2007.

FMS Wertmanagement last week sold 15 U.S. commercial mortgage loans with a nominal value of $1.2 billion.