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Monday, 21 October 2013

INITIAL PRICING: JPMBB Commercial Mortgage Securities Trust, 2013-C15

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Class Amt
$mln
Sub
Level%
Avg
Life (yrs)
Rating
Moody's
Rating
Fitch
Rating
Kroll
Pricing
%
Final
Pricing (bp)
Bnch
mark
A-1 63.68 30.00 2.67 Aaa AAA AAA 100.00 +58 swaps
A-2 285.32 30.00 4.92 Aaa AAA AAA 103.00 +85 swaps
A-3 21.44 30.00 6.88 Aaa AAA AAA 103.00 +112 swaps
A-4 110.00 30.00 9.83 Aaa AAA AAA 103.00 +104 swaps
A-5 206.90 30.00 9.88 Aaa AAA AAA 103.00 +107 swaps
A-SB 67.69 30.00 7.36 Aaa AAA AAA 103.00 +99 swaps
A-S 93.94 22.125 9.93 Aaa AAA AAA 103.00 +135 swaps
B 76.05 15.750 9.96 Aa3 AA- AA- 102.999 +185 swaps
C 44.73 12.00 9.96 A3 A- A- 100.498 +245 swaps
D 59.65 7.00 9.96 NR BBB- BBB- +435 swaps
E 23.86 5.00 9.96 NR BB BB+ Treas
F 11.93 4.00 9.96 NR B BB Treas
NR 47.72 0.00 9.96 NR NR NR Treas
X-A 928.98* 0.00 NA Aaa AAA AAA 8.4501  +150  Treas
X-B 76.05* 0.00 NA Aa3 AA- AAA 2.1938 +165  Treas
X-C 83.50* 0.00 NA NR NR NR Treas

*Notional amount, interest only

Collateral balance: $1,192.91 million

Bookrunner(s): JPMorgan Securities (50.9 percent of deal balance), Barclays Capital (49.1 percent)

Lead Managers: JPMorgan Securities, Barclays Capital

Co-managers: KeyBanc Capital Markets

B-piece Buyer: LNR Securities Holdings (51 percent of E, F, NR) Eightfold Real Estate Capital Fund III LP (49 percent)

Master Servicer: Wells Fargo Bank

Special Servicer: LNR Partners

Operating Adviser: Pentalpha Surveillance

Certificate Administrator: Wells Fargo Bank

Trustee: USBank

Originators: JPMorgan Chase Bank (50.9 percent of pool balance), Barclays Bank (21.5 percent), Starwood Mortgage Funding (16.7 percent), KeyBank 10.8 percent

Number of Loans/Properties: 68/151

Top-10 Concentration: 55.8 percent

Property Types: Retail (28.8 percent of pool balance), office (28.2 percent), multifamily (20.4 percent), hotel (10 percent), manufactured housing (5.7 percent), industrial (3.1 percent) self storage (1.9 percent), mixed use (1.5 percent), other (0.3 percent)

Underwritten DSCR: 1.53x

Underwritten LTV: 65.1 percent

Underwritten Debt Yield: 10.5 percent

Weighted Average Mortgage Rate: 5.09879 percent

Full-term IO Loans: 3 loans (19.3 percent of pool balance)

Partial-term IO Loans: 17 loans (30.7 percent of pool balance)

Largest Loans:

  • $119 million piece of a...




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Additional Info

  • Syndicate to Realpoint: No
  • Subject: CMBS Pricing (PRICE)
  • Deal Name: JPMBB Commercial Mortgage Securities Trust, 2013-C15
  • Private: Yes
Read 838 times Last modified on Wednesday, 23 October 2013

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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