Bank of America Merrill Lynch is marketing a CMBS deal called Bank of America Merrill Lynch Large Loan, Inc. Commercial Mortgage Passthrough Certificates Series 2011-FSHN.


The five-tranche deal comprises Class A notes worth $310 million; Class X notes worth $410 million; Class B notes worth $35.725 million; Class C notes worth $34 7 million; and Class D notes worth $29.6 million.

On June 20, Kroll Bond Rating Agency issued its preliminary ratings on the deal, which marked the first time the newcomer has issued an assessment of CMBS. For the presale on the first-time CMBS ratings from Kroll, click on this site.

Meanwhile, today Moody’s Investor’s Service has assigned provisional ratings of ‘Aaa (sf)’ to the deal's class A certificates; ‘Aa2 (sf)’ to the class B certificates; ‘A2 (sf)’ to the class C certificates; ‘Baa2 (sf)’ to the class D certificates; and ‘Aaa (sf)’ to the class X certificates.

The BofA Merrill CMBS is backed by Fashion Centre at Pentagon City, which is an 820,869 square feet super-regional mall that was built in 1989 and is anchored by Macy’s and Nordstrom. The mall is located in Arlington, VA. According to Kroll, Nordstrom, which has 219,415 square feet, is not part of the collateral.

The purpose for the financing is to refinance a $145 million CMBS loan that was originated in 2001 and securitized in the LBUBS 2001-C7 offering, Kroll noted in its presale on the transaction.

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