The Federal Deposit Insurance Corp. (FDIC) closed on a sale of securities as part of a securitization backed by around $394.3 million of performing commercial and multi-family mortgages from 13 failed banks.

The investors for the Class A senior certificates represented a wide variety of organizations, including banks, insurance companies and money managers, which paid par for the senior certificates. The Class B mezzanine and Class C subordinate classes were purchased by an affiliate of LNR Partners.

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