Morgan Stanley plans to issue $800 million in securities backed by a large commercial mortgage loan that is secured by Century Plaza Towers, a tier-one office property in Los Angeles, according to presale reports published by Standard & Poor’s and Morningstar.
The deal, Morgan Stanley Capital I Trust 2014-CPT, will offer $415 million of super senior notes that have been assigned preliminary ratings of AAA’/ AAA’. S&P has assigned the $65 million, class A-M, a AA ’ rating. Morningstar has assigned AAA’ ratings to the notes. The notes mature in July 2021.