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.
Breaking: WeWork Banks on Brokerage Business
3 days ago