Morgan Stanley and Bank of America have begun marketing  a $1.2 billion CMBS deal.

The deal called Morgan Stanley Capital I Trust 2011-C2 follows the February issuance of the 2011-C1 deal issued from the same trust structure.

According to a Fitch Ratings presale report on the deal, the securities comprise 52 loans secured by 64 properties. One loan — a midtown Manhattan property — representing 7.9% of the pool, is expected to have an investment-grade credit opinion of ‘BBBsf’ by Fitch.

The certificates follow a sequential-pay structure. The pool’s largest geographic concentration is in Texas, at 35.1% of the pool, including 19.8% in the Houston MSA and 11.9% in the San Antonio MSA.



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