The issue is based on a single JPMorgan loan collateralized by 72 retail properties in 20 states, with tenants including The Kroger Co., Kmart, Burlington Coat Factory and Big Lots, Realpoint said. The borrower is Centro NP LLC, a unit of Centro Properties Group, a U.S. and Australian mall owner.
Realpoint said the issue has a loan-to-value ratio of 78.7 percent, based on the "loan cut-off balance" and an aggregate property value of $616.3 million. Its debt service coverage ratio would be 1.64 times.
--10/8/10 Updated deal name. Priced mid September, settled 9/13.