CBA Commercial Issues Small Balance Commercial Mortgage Pass-Through Certificates
June 10, 2006 (PRLEAP.COM) Business News
Stamford, Conn. – CBA Commercial, LLC has issued CBA Commercial Assets Small Balance Commercial Mortgage Pass-Through Certificates, Series 2006-1. The certificates were offered in a private placement pursuant to Rule 144A. The $166,804,318 securitization is backed by 316 small balance multifamily, commercial and mixed-use mortgage loans acquired by CBA Commercial. The average principal balance of the loans as of this issuance is $527,861. Moody’s Investors Service, Standard & Poor’s Ratings Services and Fitch Ratings have assigned ratings to various certificates.
Greenwich Capital Markets, Inc., Deutsche Bank Securities, Inc. and CBA Securities, LLC were the initial purchasers of the certificates. GMAC Commercial Mortgage Corporation (now “Capmark Financial Group”) is the servicer and special servicer.
Series 2006-1 is CBA Commercial’s third offering. The company issued small balance commercial pass-through certificates, backed by mortgage loans it previously acquired, in July 2005 and December 2004.
CBA Commercial, LLC (www.cbaloans.com) is a specialized mortgage investment firm that purchases and securitizes small balance multifamily, commercial and mixed-use mortgage loans. Its CBAC Authorized Lender program provides standard loan documentation, standard underwriting guidelines, online processing, appraisals and environmental insurance for loans ranging from $100,000 to $3 million.
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