A single-borrower deal and a conduit commercial mortgage securitization priced this week, bringing private-label issuance for April to $3.6 billion – barely half of March’s $7 billion.

The $900 million CD 2017-CD4 priced Friday afternoon, with the 10-year benchmark AAA pricing inside of guidance by 2 basis points at Swaps plus 92 basis points, according to JPMorgan. Both sponsors, Deutsche and Citi will comply with the risk retention requirement on this deal via a vertical interest. (By comparison, several recent transactions have relied on a hybrid strategy, with the sponsor retaining a vertical strip and a third-party retaining a horizontal strip.)

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