Institutional Mortgage Capital, Toronto, has completed a privately placed Canadian commercial mortgage-backed securities deal it said shows increasing buyer interest in the asset class.
“There is very strong investor demand for Canadian CMBS and we expect it to grow significantly,” IMC president John Ho said in a press release.
The approximately $250 million deal, Institutional Mortgage Securities Canada Inc., Series 2013-3, is the third Canadian CMBS transaction IMC has brought to market since February 2011, for a total of $739.1 million.
IMC intends to issue its next transaction by the summer of 2013, and expects the size of its next transaction to exceed $300 million. It was joined by another issuer in the Canadian market in 2012, and expects other participants to begin adding to the Canadian CMBS pipeline in the future.
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