Extended Stay plans to issue a $2.5 billion single-borrower CMBS deal that is being managed by JP Morgan, Deutsche Bank and Citigroup.

The deal, Extended Stay America Trust 2013-ESH Commercial Mortgage Pass-Through Certificates, Series 2013-ESH, represent the beneficial interest in the mortgage loan securing 680 owned and ground-leased hotels; all furniture, fixtures, and equipment (FF&E); operating assets; and agreements securing all intellectual property.

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