Morgan Stanley and Bank of America are marketing a $1.5 billion commercial mortgage-backed securitization deal.
The deal, series 2013-C7, is structured with $102.2 million of class A-1, triple-A rated notes; $135.7 million of class A-2, triple-A rated notes; $111.6 millon of class A-AB, triple-A rated notes; $160 million of class A-3, triple-A rated notes; $466.3 million of class A-4, triple-A rated notes; $123.7 million of class A-S, triple-A rated notes; $85.3 million of class B, double-A rated notes; $261.3 million of class PST, single-A rated notes and $52.2 million of class C, single-A rated notes.
The deal was assigned preliminary ratings by DBRS and Moody’s Investors Service.
The mortgage pool consists of 64 loans secured by first liens on 123 multifamily and commercial properties, with an aggregate principal balance as of Jan. 1, 2013 of approximately $1.3 billion.
Analysts at Deutsche Bank said in a report published today that the January primary CMBS pipeline consists of approximately $8 billion in bonds. That would mark the busiest month since December 2007.