JPMorgan Leads $2.9 Billion of Commercial-Mortgage Offerings
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JPMorgan Chase & Co. is leading banks marketing $2.9 billion of bonds backed by commercial mortgages as relative yields narrow amid investor demand for debt tied to skyscrapers, offices and shopping centers.
The JPMorgan deal consists of 42 loans on 84 properties, said a person with knowledge of the transaction who declined to be identified because terms aren’t public. Wells Fargo & Co. and Royal Bank of Scotland Group Plc are also selling $1.45 billion of bonds linked to office, mall and hotel loans.