Deutsche Bank and Cantor expect to sell a $863 million conduit backed by 49 commercial mortgage loans that are secured by 60 properties, according to a regulatory filing.
The deal, COMM 2014-CCRE18, has been assigned preliminary ratings by Fitch Ratings, DBRS and Standard & Poor’s. It will offer $697 million of triple-A rated, super-senior class A notes with credit enhancement at 30%; $61 million of triple-A senior notes with credit enhancement at 23.8% is also on offer.
Further down the curve, the capital structure will offer $58.5 million of double-A minus, class B notes and $46 million of single-A minus, class C notes.
The loans are secured by a variety of property types that include retails, multifamily, mixed use, office, hospitality, industrial manufactured housing and senior housing properties.