Insurance firm Assurant Inc. is bringing a diverse mix of low-leverage commercial mortgages to it’s first-ever $259.7 million securitization.

Assurant Commercial Mortgage Trust 2016-1 is backed by loans originated, sponsored or sold by Assurant and its subsidiaries, with a strong mix of retail, office and multifamily properties. The loans are generally low-leverage, with an average seasoning of 45 months and loan-to-value ratios of 81.2%; however, many of the loans were not originated with the intention of securitization, and are missing common CMBS features such escrows and reserves.

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