Moody’s Investors Service has assigned a range of definitive ratings to about $300 million in commercial mortgage-backed securities from a single-asset transaction at the end of what has been a relatively active year for CMBS approaches.
Ratings on the tranches issued in the deal, GS Mortgage Securities Corporation Trust Commercial Mortgage Pass-Through Certificates Series 2012-BWTR, range from Moody’s top structured finance rating of Aaa (sf) to a rating of Baa2 (sf), which is much closer to speculative grade.
Fee-simple interest in 546,411 square feet within the Bridgewater Commons mall and an adjacent 93,799-square-foot property collateralize the first-lien loan in the transaction. The borrowers are two special purpose entities, Bridgewater Commons Mall II LLC and Bridgewater Commons Mall Development LLC.
Analysts have been
