WFCM 2010-C1 - $735mm

Presale and Structure are out (10/22), talk out 10/26

Class	Fitch/MDYs	Size ($mm)	WAL (yrs)	C/E	Talk
A-1	AAA/Aaa	162.00	5.05	17.80	+125
A-2	AAA/Aaa	443.25	9.71	17.80	+135
B	AA/Aa2	22.08	9.91	14.80	+230
C	A/A2	31.28	9.91	10.50	+300
D	BBB/Baa3	34.03	9.93	5.90	+400
E	Ba2/BBB-	13.80		4.00
F	B2/B	12.88		2.25
G	NR/NR	16.56		0.00
X-A	AAA/Aaa	605.25
X-B	NR/Aaa	130.62

UPDATED: As soon as I said "no talk yet", it trickled out.

This is basically a Fusion-Lite deal with 37 loans (59 props) and an average loan size of $19mm (max=185mm, min=3.3mm, Top10=64%).

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.