The $1.3 billion COMM 2012-CCRE2, a conduit deal that includes loans from Cantor Commercial Real Estate Lending, German American Capital Corp., and Ladder Capital Finance, priced its triple-A tranche on Aug. 8 at 112 basis points over swaps, which is significantly tighter than the pricing guidance of 120 over swaps.  

This tightening trend was also seen down the credit curve: the single-A rated C tranche priced at 335 over swaps, which is about 25 basis points tighter than the previous deal, according to figures cited in an Aug. 10 Barclays Capital securitization report.  

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