The market is ripe for the first pure multifamily residential dwelling securitization of Eastern German properties, market sources said. The deal is expected to be 400 million in size.

But the transaction won't be alone as 2006 is expected to be another big year for these deals, said market sources. "In general, CMBS will continue to a big area of growth and, in particular, multifamily home securitizations will drive this growth," Nicolaus Trautwein, head of the German securitization team at Commerzbank, said.

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