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Chase May Have $800M CMBS Offering

NEW YORK CITY-JPMorgan Chase and Ladder Capital are preparing a conduit deal backed by new loans in office and retail, Crain's reported.

By Paul Bubny | Updated on April 30, 2010

NEW YORK CITY-JPMorgan Chase & Co. and Ladder Capital Finance are preparing to market an $800-million CMBS deal in June, Crain’s New York Business reported Friday. The conduit CMBS deal is backed by new loans both firms have made in the office and retail sectors, including $650 million originated by Chase, according to unnamed sources cited by Crain’s.

A spokeswoman for Ladder tells GlobeSt.com the company declines to comment. Calls to Chase were not returned by deadline.

The report of a JPMorgan/Ladder offering comes a few weeks after RBS Commercial Funding priced what’s reportedly the first CMBS issue backed by multiple loans in nearly two years. The $309.7-million securitization from the Royal Bank of Scotland consists of loans on 81 commercial properties in Texas, New York, Missouri, Wisconsin, New Jersey and other states.

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