CMBS Issuance Up 10% As Huge Hotel Portfolio Gets $2.3B Loan
JPMorgan Chase Bank and Deutsche Bank have delivered $2.3B in senior and subordinate financing for 451 Motel 6 and Studio 6 hotels.
About $2B of the financing will be securitized through a Motel 6 Trust, marking the first CMBS hotel transaction in more than three weeks, Trepp reports. CMBS issuance for hotel properties in 2017 so far totals $8.7B. CMBS issuances have now reached $49.2B, which is almost 10% more than the amount registered at this time last year.