Cantor Fitzgerald & Co. has filed a prospectus with the Securities and Exchange Commission (SEC) to issue under its CFCRE Commercial Mortgage Trust 2011-C2. The deal is worth $541.86 million.
To view the full filing, please click on this link.
Cantor, Barclays Capital, and Deutsche Bank Securities are co-lead bookrunning managers on the offering.
The deal's capital structure comprises a Class A-1 worth $52.29 million; Class A-2 $341.4 million; Class A-3 $34.14 million and Class A-4 $114 million.
Cantor is the sole bookrunner with respect to roughly $95.93 million of the offered certificates while Barclays will be the sole bookrunner for the same amount of the certificates. Deutsche will act as sole bookrunning manager for around $350 million of the offered certificates.
Other underwriters on the CMBS are CastleOak Securities and Nomura Securities International.
The issuing entity’s primary assets will be 51 fixed-rate mortgage loans with an aggregate outstanding principal balance as of the cut-off date of $774.09 million.
These mortgages are backed by first liens on 72 commercial, multifamily and manufactured housing community properties located in 19 states and the District of Columbia.
Follow-Up to First-Ever Deal
This new transaction follows the firm's first-ever CMBS called CFCRE 2011-C1 in April. The transaction was backed by 38 loans in 67 properties.
The firm's debut new-issue CMBS transaction was backed by loans originated by Cantor Commercial Real Estate (CCRE), a real estate financing business formed by Cantor Fitzgerald and CIM Group in August 2010.
This $634.5 million deal is also noteworthy for the CMBS sector since it is the first time in close to 10 years that a newcomer into the business has originated, securitized and lead-managed its own deal.
In June, ASR interviewed Shawn Matthews, chief executive officer of Cantor and Anthony Orso, chief executive officer of CCRE regarding the firm's first CMBS offering and their perspective on their middle-market niche. To read the entire interview, please click here.
Other Upcoming CMBS
In other CMBS deal news, JPMorgan Chase reportedly is planning to issue a CMBS worth $375 million backed by New York's Palisades Center shopping mall, according to a Bloomberg report published yesterday.
Pyramid Management Group owns the property. J.C. Penney Co., Home Depot and Target Corp. are the biggest tenants of the 1.9-million square-foot shopping center located in West Nyack, New York, the news report said.