Wells Fargo (WFC) and the Royal Bank of Scotland (RBS) will bring a $1.1 billion conduit commercial mortgage bond to market, according to a pre-sale report from Kroll Bond Ratings.

Kroll rated its first conduit CMBS deal in March.

The latest security is backed by 61 fixed-rate commercial mortgages for 80 properties. According to the prospectus, more than 57% of the properties are retail buildings. Another 13% are office spaces.

Nearly 28% of the buildings are concentrated in California, the most of any state in the deal.

Roughly $945 million in four separate classes received a AAA rating.

The weighted average loan term on the deal is 9.8 years with an average coupon of 4.96%.

Wells Fargo was named the master servicer on the CMBS with Torchlight Loan Services as the special servicer.

jprior@housingwire.com

@JonAPrior

Most Popular Articles

CFPB to consider changing or eliminating TRID rule

The CFPB has been taking a long, hard look at some of its rules and regulations. Next up on its list to review is TRID, and it looks like eliminating the rule entirely is not off the table.

Nov 20, 2019 By

Latest Articles

Americans are staying put in record numbers

The share of people who moved in the 12 months through March fell to the lowest level on record, adding to the woes of a housing market plagued by supply shortages.

Nov 21, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please