Deutsche Bank Target Irish Properties in Next CMBS

March 17, 2015, 2:23 p.m. EDT 1 Min Read

Deutsche Bank plans to issue its first Irish CMBS since the financial crisis, the bank stated in a transaction document today.

DECO 2015-HARP pools three loans secured byn 18 residential, office and retail properties located mostly in Dublin, Ireland. The loans have an overall loan-to-value (LTV) ratio of 62.8%.

The deal is expected to be rated by Standard & Poor’s and Moody’s Investors Service, according to the transaction document.

Up for sale are a total of 175 million ($185 million) of commercial mortgage backed securities that include 90 million of class A notes with a weighted average life of 3.8 years, 55 million of class B notes with a WAL of 5.1 years, 17.5 million of class C notes with a WAL of 5.8 years and 12.5 million of class D notes with a WAL of 5.8 years.

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