JPMorgan Chase Puts $535M CMBS in Pipeline

JPMorgan Chase is putting a $535 million commercial mortgage-backed securities deal backed by a single loan on the Fountainebleau Miami Beach hotel in the pipeline, according to Standard & Poorís.

A two-year floating-rate loan secured by a first priority lien mortgage on the borrowers' fee simple interest and leasehold interest in the 1,594-room hotel backs JPMorgan Chase Commercial Mortgage Securities Trust 2014-FBLU, according to S&Pís presale report on the deal.

S&P assigned preliminary ratings to seven tranches of the transaction, two of which have notional balances and A-minus (sf) ratings. The other classes have ratings ranging from S&Pís top preliminary rating of AAA (sf) to a speculative grade BB-minus.

JPMorgan Securities is the dealís underwriter LLC and KeyBank is the servicer.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.