Wells Fargo’s latest commercial mortgage trust deal is a higher-leverage gambit of riskier debt-service coverage and loan-to-value ratios, driven by additional subordinate financing carried by some of the pool’s largest borrowers.

The $702 million Wells Fargo Commercial Mortgage Trust 2013-C34 is a securitization of fixed-rate multi-borrower transactions, the second Wells has put together in the last two months through the WCFM platform.

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