Valley Stream Mall to Back CMBS Deal

A $324.4 million large-loan commercial mortgage-backed securities deal backed by a mall in Valley Stream, N.Y., is coming to market, according to a Morningstar presale report.

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Morningstar assigned preliminary ratings to the deal ranging from its top investment grade rating of AAA to a speculative grade BB to nine classes of securities in the transaction.

German American Capital Corp. is the mortgage seller for the deal, COMM 2013-GAM, which is secured by fee-simple and leasehold interest in the 1.8-million-square-foot mall.

Deutsche Mortgage & Asset Receiving Corp. is the depositor and Deutsche Bank Securities is the lead manager. Wells Fargo Bank is the trustee. KeyCorp Real Estate Capital Markets Inc. is the master and special servicer.

Bonnie Sinnock

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

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