Deutsche Bank and Wells Fargo have teamed up to present the first U.S. commercial real estate (CRE) collateralized debt obligation (CDO) in nearly three years.
Reuters reports that the banks are now marketing their $670.5 million Prima Capital CRE Securitization 2011-1 transaction. The CDO is backed by 57 assets, including 22 commercial mortgage-backed securities from 11 trusts, 19 real estate investment trust debt securities and 10 whole loans.
The transaction is fully funded, and investors are being offered only AAA and AA tranches.
