JP Morgan plans to issue a $510 million, commercial mortgage-backed securitization backed by Marriott hotel properties.
The deal, called JP Morgan Chase Commercial Mortgage Securities Trust 2013-JWRZ, is backed by one two-year, floating-rate commercial mortgage loan totaling $510.0 million. It is secured by a first-lien on the borrower's fee interest in the J.W. Marriott Grande Lakes and the Ritz-Carlton Grande Lakes (Grande Lakes Resort) in Orlando, Fla. and the fee and leasehold interests in the J.W. Marriott Desert Ridge in Phoenix, Ariz, according to Standard & Poor’s. .