A newly assembled and growing commercial mortgage-backed securities team at Warburg Dillon Read has already closed $600 million in loans and is looking for an issuer to partner with for the company's inaugural CMBS offering, most likely slated to hit the market some time in the first quarter of 2000.

"We're probably good for around $800 million by the end of October," said Brian Harris, executive director of principal finance and credit arbitrage at Warburg. "But it is not big enough to go on our own, at least for this year."

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