TORONTO, Dec. 16, 2014 /CNW/ - CMLS Financial, one of Canada's largest, independently owned mortgage services companies, successfully closed its fourth Commercial Mortgage Backed Securities (CMBS) transaction since 2012, contributing 24 commercial mortgage loans totaling $182.3 million to the CMLS Issuer Corp., Series 2014-1 transaction. The transaction, a $283.7 million CMBS pool consisting of 37 commercial mortgage loans secured by a diversified portfolio of 41 properties, was the third CMBS transaction of 2014 and the first issued under the CMLS Issuer Corp. banner.
"CMLS Financial continues to view CMBS as a valuable funding source for our borrower clients," said Glen Malcolm, Senior Vice President of CMLS Financial. "The portfolio quality and operational expertise of our client base offers us the ability to fund and securitize high quality, diverse pools of commercial mortgage loans, creating a sound investment opportunity for portfolio managers."
In addition to this recent transaction, CMLS Financial had completed two conduit CMBS transactions in 2012 and 2013 with an aggregate size of $642 million under the Canadian Commercial Mortgage Origination Trust (CCMOT) platform. The company also arranged the $400 million Starwood Canadian Westin Portfolio transaction in September 2013, marking Canada's first single borrower CMBS securitization since 2006.
This transaction further solidifies CMLS Financial's leadership role in the reemerging Canadian CMBS sector. Inclusive of the CMLS Issuer Corp., Series 2014-2 transaction, CMLS Financial has managed CMBS transactions totaling $1.3 billion and has originated over $1.5 billion in commercial mortgage loans earmarked for securitization since 2012.
About CMLS Financial
Founded in 1974, CMLS Financial is celebrating 40 years as Canada's Mortgage Company™. The company provides lending solutions to real estate owners and developers and related services to some of Canada's most prominent financial institutions, insurance companies and investment managers from coast to coast. The company originates over $2.5 billion of annual commercial loan funding and currently administers an aggregate mortgage portfolio of more than $10 billion.
Image with caption: "CMLS Financial (CNW Group/CMLS Financial)". Image available at: http://photos.newswire.ca/images/download/20141216_C4173_PHOTO_EN_9568.jpg
SOURCE: CMLS Financial
For further information: Glen Malcolm, Senior Vice President, 647.288.9320, [email protected]