Subject: Commercial MBS (CMBS)

November 11, 1999 By Thomas J. Walsh, VertiNews.com Senior Writer Donaldson, Lufkin & Jenrette is launching a $428.5 million floating-rate commercial mortgage-backed securities deal.Almost all of the loans in the deal were originated by DLJ's Column Financial lending unit. The ...

The investment bank priced its first, and possibly only CMBS deal of the year at levels that were expected. But nonetheless, some say the firm was hit with a "re-entry" penalty.

November 4, 1999 NEW YORK – Fitch IBCA has lowered by one notch the rating of one class of a 1997 commercial mortgage-backed securities deal because of the deterioration of Rite Aid's credit rating.The rating agency downgraded, to double-B-plus from ...

November 3, 1999 Merrill Lynch is gearing up to start marketing $355 million of floating-rate commercial mortgage-backed securities for GE Capital.The deal, GE Capital Office Finance Corp., Series FL1, is backed by two three-year, interest-only loans that GE Capital acquired. ...

J.P. Morgan has added its fifth securitization expert in London. The addition of Phillip Evanski, who was formerly with DLJ, positions the firm to take advantage of what it expects will be increased activity in Europe.

First Boston launched its $1.2 billion CMBS issue, which is being co-managed by Morgan Stanley, while the team of Chase Manhattan and GE Capital is readying a $1 billion transaction.

Bank of America is planning to securitize $1.1 billion of commercial mortgages, some of which are seasoned loans originated by banks that it has acquired.

October 28, 1999Merrill Lynch Mortgage Investors Inc., 1999-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingDuff & PhelpsAvg.LifeSpread(BP)BnchMark A-110026.5AAAAAA5.6+117Treas.A-2350.3526.5AAAAAA9.6+136.25Treas.B33.721AAAA9.9+158.25Treas.C27.616.5AA9.9+180Treas.D9.215A-A-9.9+195Treas.E21.411.5BBBBBB9.9+250Treas.F7.610.25BBB-BBB-10.25+335Treas.X613N/AAAArAAA9.05+400Treas.

October 26, 1999 WASHINGTON – Allied Capital Corp. (NASDAQ:ALLC) said it invested $27.8 million during the quarter ended Sept. 30 in commercial mortgage-backed securities with a face value of $50.4 million.Allied Capital is one of about six investors that have ...

October 21, 1999 SASCO Floating Rate Commercial Mortgage Trust 1999-C3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifeSpread(BP)BnchMarkA783.861AaaAAA1.56+401 mo. LiborB120.655Aa1AA+1.79+601 mo. LiborC80.451Aa2AA1.95+701 mo. LiborD70.347.5Aa3AA--+851 mo. LiborE75.443.75A1A+-+1101 mo. LiborF75.440A2A-+1201 mo. LiborG70.336.5A3A--+1501 mo. LiborH60.333.5Baa1BBB+-+2251 mo. LiborJ80.429.5Baa2BBB-+2501 mo. LiborK20.128.5Baa3BBB--+3001 mo. Libor