UBS is marketing its first offering of commercial mortgage bonds in four years, so perhaps it’s no surprise that the bank is relying on a third party to take skin in the game of the deal.

Although UBS has been actively contributing loans to CMBS conduits in recent years, the $948.9 million UBS 2017-C1 is the first transaction it has led since, 2013, according to Kroll Bond Rating Agency.

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