Merrill Lynch Mortgage Loans Inc. priced its first commercial mortgage-backed securities deal of 2001 last week.
The issue was a C$187.68 million offering of CMBS pass through certificates, and was well received according to sources. The deal was comprised of five tranches, with ratings ranging from triple-A to triple-B-minus. The CMBS are secured by a pool of 229 multifamily housing and commercial mortgage loans originated by Laurentian Bank of Canada on 239 properties across Canada. The largest mortgage is 6.6% of the pool.