Deutsche Bank and Cantor Fitzgerald priced $1.2 billion of bonds collateralized by 63 commercial mortgage loans, according to pricing document filed with the US Securities and Exchange Commission.

COMM 2013-CCRE12’s 2.85-year, triple-A, A-1 notes priced at 62 basis points over swaps; the triple-A, 4.93-year a-2 notes priced at 4.93 basis points over swaps;  the 7.48-year, triple-A, A-SB notes priced at 100 basis points over swaps; and the 9.78-year, A-3, triple-A notes priced at 103 basis points over swaps.

The 10-year, super-senior A-4 class sold at 105 basis points over swaps.  The structure sold the triple-A rated, A-M notes with a weighted average life of 9.93-years at 130 basis points. Further down the credit curve, the structure’s double-A minus, 10-year B notes priced at 175 basis points over swaps and the single-A minus, 10-year C notes priced at 235 basis points over swaps.

The loans have principal balances ranging from $3.0 million to $150.0 million for the largest loan in the pool, which is secured by 175 West Jackson (12.5%), a 1.5 million square foot, Class-A office tower located in Chicago, Illinois.

The top five loans, which also include Miracle Mile Shops (12.1%), Westlakes (5.7%), Oglethorpe Mall (5.0%), and 9 Northeastern Boulevard (4.5%), represent 39.9% of the initial pool balance, while the top 10 loans represent 56.5%.

 

 

 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.