An Australian CMBS issued by building society IMB called Illawarra Series 2011-1 CMBS Trust is in the market. The A$202.56 ($ 212.68) transaction is the third CMBS for the issuer.

The deal, which is collateralized by 750 contracts, is backed by a pool of SME mortgage receivables that have been sold to an SPV established in Australia, according to a Moody's Investors Service presale report.

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