Another $1.3 million of bonds backed by a single large commercial mortgages began marketing Wednesday via two deals, boosting the March issuance calendar for such deals to $4.6 billion.

JPMCC 2015-COSMO will refinance a $875.0 million, five-year floating rate loan, originated by JPMorgan Chase Bank, according to a Kroll Bond Rating presale report.  It was used by the Blackstone Group to finance part of its 2014, $1.73 billion acquisition of The Cosmopolitan of Las Vegas, a 2,959-key resort hotel and casino located on the Las Vegas Strip. The loan is pays only on interest for its entire term and has a loan-to-value ratio, as calculated by Kroll, of 80.9%

An additional $425 million of mezzanine debt secured by the same property is held outside the trust. 

In addition to guestrooms, the amenities at the hotel consist of more than 25 restaurants, lounges and bars, over 160,000 sf of convention and banquet facilities, a 99,719 sf casino, over 96,000 sf of entertainment space, 35,744 sf of retail space, 50,000 sf of spa and fitness facilities, and a 3,200 seat multi-use entertainment venue.

The property has experienced steady annual growth in RevPAR and net cash flow since 2012, its first full year of operations. The aggregate RevPAR growth from 2012 through Full-Year 2014 was 29.5%, with annual year-over-year growth ranging from 11.7% to 15.9%, and averaging 13.8%. The aggregate net cash flow growth from 2012 to Full-Year 2014 is 422.1%, with annual year- over-year growth ranging from 78.1% to 193.1%, and averaging 135.6%.

A second deal, CSMC Trust 2015-TOWN, refinances a $380 million two-year, floating rate loan originated by Column Financial, an affiliate of Credit Suisse Securities. The loan has a Fitch LTV of 101.4%. An additional $120 million of mezzanine financing is held outside the trust.

The loan is secured on 85 economy, extended stay properties branded as InTown Suites that are part of the Starwood Capital Group Hotel portfolio.

The hotels range in size from 71 rooms to 158 rooms, averaging 127 rooms and were built between 1972 and 2004, with an average age of 17 years old.

Starwood owned hotel properties also backs two large loan CMBS, totaling $790 million, that began marketing last Friday.

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