The banking giants are bringing Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11 to the market, with an unpaid principal balance of $856.3 million.
Fitch Ratings pre-rated the deal, with the majority of the tranches slated as 'stable' and also receiving expected AAA ratings.
Morningstar Credit Ratings also pre-rated the deal, with the majority of the tranches also receiving expected AAA ratings.
The pool consists of 38 loan secured by 72 properties. Additionally, the top ten loans represent 67% of the total balance, which his the highest of any Fitch-rated deal since 2011.
Hotel properties represent roughly 25% of the pool, exceeding the 2012 and first half 2013 average concentration of 13.5% and 13.8%, respectively.
The pool is scheduled to amortize 15.4% prior to maturity, with no interest only loans.