JP Morgan Securities and Deutsche Bank are working on a $285 million CMBS backed by the Hotel del Coronado in San Diego and the intellectual property rights associated with hotel’s brand name, according to a Morningstar presale report.

Del Cornado Trust 2013-DEL will offer investors $127.6 million of ‘AAA’ notes; $48.8 million of ‘AA-’ notes; $36.4 million of ‘A-’ notes; $48 million of ‘BBB-’ notes; and $24.2 million of ‘BB’ notes.

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