UBS and Citigroup are planning to sell a $674 million CMBS expected to close before the year's end, according to a Bloomberg report.
The deal, which is being rated by Moody's Investors Service and DBRS, will offer four tranches of triple-A rated notes, with average life maturities of 2.6-year, 4.67-year, 9.68-year and 7.2-year. The deal is backed by 32 mortgage loans on 38 properties throughout the U.S., according to the report.
UBS and Citigroup are the joint bookrunners on the deal. Natixis, Barclays Capital, Bank of America Merrill Lynch and Morgan Stanley are the co-managers on the deal. According to the Bloomberg report, UBS accounts for 81.6% of the pool, with a unit of Natixis contributing the rest.