After having explored the gamut of commercial mortgage transactions in recent years, from traditional CMBS to parri passu participation sales, Sun Life Financial and its investment banker, Newman & Associates, Inc. have recently closed on a private, non-rated securitization for $181 million, backed by seasoned, high quality mortgages.

The securitization was structured as a senior/subordinate A/B transaction, whereby Newman privately placed the 91% senior class to a single institutional investor. Sun Life Financial retained the 9% subordinate class, an I/O strip and servicing of the loans.

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