The deal called GS Mortgage Securities Trust 2013-GCJ14 has been assigned preliminary ratings by Moody’s Investors Service, DBRS and Kroll Bond Ratings Agency.
On offer to investors is a $81.9 million, short-dated, 2.47-year, class A1 tranche rated triple-A; $77.9 million, 4.87-year, class A-2 notes rated triple-A; $36.3 million, 6.79-year, class A-3 notes rated triple-A; $165 million, 9.77-year, class A-4 notes also rated triple-A; $406.4 million, 9.85-year, A-5 notes rated triple-A; and $102.2 million, 7.36-year, class A-AB notes rated triple-A. An interest only X-A tranche sized at $967.3 million is also being offered.
Drexel Hamilton is co-manager on the deal.
The pool has exposure to all the major property types. The largest loan securitized, representing 12.1% of the pool, is secured by 11 W. 42nd St., an office building located in Midtown Manhattan, according to the KBRA presale report. The top five loans include ELS Portfolio (8.8%), W Chicago-City Center (7.5%), Cranberry Woods Office Park (4.5%) and Mendoza Multifamily Portfolio (4%). These loans represent 36.8% of the initial pool balance. The properties in the collateral pool are located in 21 different states.
