The latest single-asset commercial mortgage securitization to hit the market is backed exclusively by extended-stay hotels, according to a presale report published by Standard & Poor’s.  

The deal, BLCP Hotel Trust 2014-CLRN, is collateralized by a $570 million two-year, floating-rate commercial mortgage with three one-year extension options, secured by the fee and leasehold interests in 47 extended-stay hotels.

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