Deutsche Bank and Cantor Fitzgerald priced
COMM 2013-CCRE12’s triple-A, A-1 notes priced at 62 basis points over swaps. The triple-A, A-2 notes priced at almost five basis points over swaps. The triple-A, A-SB notes priced at 100 basis points over swaps and the A-3, triple-A notes priced at 103 basis points over swaps.
The 10-year, super-senior A-4 class sold at 105 basis points over swaps. The structure sold the triple-A rated, A-M notes at 130 basis points. Further down the credit curve, the structure’s double-A minus, 10-year B notes priced at 175 basis points over swaps, and the single-A minus, 10-year C notes priced at 235 basis points over swaps.
The loans have principal balances ranging from $3 million to $150 million for the largest loan in the pool, which is secured by 175 West Jackson (12.5%), a 1.5 million square foot, class-A office tower located in Chicago.
The top five loans, which also include Miracle Mile Shops (12.1%), Westlakes (5.7%), Oglethorpe Mall (5%) and 9 Northeastern Boulevard (4.5%), represent 39.9% of the initial pool balance, while the top 10 loans represent 56.5%.
