JP Morgan sells $933 mln real estate bonds

J.P. Morgan Chase & Co. Inc. sold on Friday about $933 million in public commercial mortgage-backed securities, supported by loans made by the bank and Canadian Imperial Bank of CommerceÂ's lending unit.

The collateral pool that backs the securities consists of 116 fixed-rate real estate loans with a principal balance of $1.004 billion, secured by 133 commercial and multifamily properties, MoodyÂ's Investors Service said in a presale report on the deal.

J.P. Morgan contributed 55.8 percent of the loans and CIBC 44.2 percent, according to MoodyÂ's. In a breakdown by property types, 36.8 percent of the loans were made to retail space; 22 percent to office buildings; 20.9 percent to industrial properties; 15 percent to apartment dwellings and 5.3 percent to other properties like hotel and manufactured housing.

(source: MoodyÂ's)

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