Tuesday, October 19, 2010

Multiple New Issue - WFCM 2010-C1 ($735mm); Hilton; Extended Stay

WFCM 2010-C1 ($735mm) was announced today - first issue off the new shelf for Wells. Collateral is 37 loan, 59 properties, 43.5% BOA, 43% WF, 13.4% Basis RE Cap 2. More to come...

Also, the WSJ reported today that the two largest Hotel CMBS clusterf*cks are coming back with new issues.

Hilton is purportedly first in line with $3bln (this is original debt, still on BOA & GS books).

Extended Stay is then expected out with $2bln before November to partly fund the $3.9bln buyout by Centerbridge/Paulson/Blackstone.

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