The Royal Bank of Scotland and Wells Fargo have begun marketing a $1.3 billion CMBS expected to be placed via the 144A market.

The transaction, WF-RBS Commercial Mortgage Trust 2011-C2, is backed by a pool of 50 commercial mortgages secured by 96 properties. The capital structure will include three 'AAAsf' tranches rated by Fitch Ratings. One loan representing 4.4% of the pool is expected to have an investment grade credit option of 'BBBsf' said Fitch.

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