Two commercial mortgage securitizations launched Monday add over $1.2 billion to the new-issue pipeline, according to rating agency reports.

The $300 million COMM 2014-BBG is backed by a single mortgage loan secured by the fee interest in two condominium units at 731 Lexington Avenue, comprising 904,573 square feet of class A office space within a mixed-use high-rise building in Midtown Manhattan. The loan has an initial term of three years, maturing March 2017, with four one-year extension options. The loan is interest-only for its term and has a floating interest rate equal to LIBOR plus 0.95% during the entire term.

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