Securitization of single, large loans has slowed this year, in part because of competition from insurance companies and banks to finance better quality properties that would typically back these deals. More recently large loans that have tapped the securitization market have done so via conduit deals, where the loan is split into multiple parri passu notes.  

However, two recent deals, Deutsche Bank’s $734.6 million GRACE 2014-GRCE and Citigroup’s $1.45 billion Commercial Mortgage Trust 2014-388G, signal the return of single asset CMBS backed by tier one office properties.  

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