CBA Securitizes Its First CMBS Deal

CBA Commercial has issued its first securitization backed by small balance commercial mortgage loans for a total of $102 million.

The loans include 265 commercial, mixed-use and multifamily mortgage loans with an average principal balance of about $387,000 the company said.

RBS Greenwich Capital was the initial purchaser of the certificates and an offering was made only to qualified institutional buyers, according to CBA Commercial.

All three major credit rating agencies - Standard & Poor's Ratings Services, Moody's Investors Service and Fitch Ratings - rated the offering. William Komperda, chairman and CEO, CBAC, said, "We have assembled a tremendous team to pursue and develop the small balance commercial loan market, and this transaction serves as an important validation of our business model. We are delighted to have completed our first capital markets offering."

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