Deutsche Bank and Cantor Fitzgerald are marketing $813.87 million of commercial mortgage backed securities, according to a filing with the Securities and Exchange Commission.
Deutsche and Cantor are co-managers of the deal, COMM 2013-CCRE11; CastleOak , RBS and Guggenheim are co-managers. The deal is being rated by Moody’s Investors Service, Fitch Ratings and DBRS.
Five classes of publicly offered notes with triple-A ratings that benefit from credit enhancement of 30%: a $42.29 million tranche with a weighted average life (WAL) of 3.12 years, a $90 million tranche with a WAL of 5.26 years, a $70.3 million tranche with a WAL of 7.62 years, a $200 million tranche with a WAL of 9.81 years, and a $411.26 million tranche with a WAL of 9.88 years.
The remainder of the deal, including a $114.28 million, triple-A-rated tranche with a WAL of 9.92 years, is being offered privately.
The notes are backed by 46 loans on 83 properties with a weighted average mortgage rate of 5.2052%.
By property types, the largest concentration is in retail (29.2%), followed by office (19.1%) and industrial buildings (10.7%).
The deal is expected to price late this week or early next week.