A Wall Street financial instrument that amplified losses during the U.S. property-bubble collapse is seeing a revival.

A specialty finance lender backed by private-equity firm H.I.G. Capital sold $209 million of securities on Friday backed by commercial mortgages on 31 properties. Underwriter Deutsche Bank AG called it a "middle market intermediate-term commercial real estate" deal. Moody's Investors Service used a title more familiar to Wall Street: a commercial real estate collateralized loan obligation, or a CRE CLO.

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