BIG Real Estate BP II, LLC, controlled by Basis Investment Group LLC, has acquired the B-piece in the BANK 2023-5YR2 CMBS transaction.  

Worth $675.1 million, the CMBS conduit securitization is backed by 20 recently issued 5-year senior mortgages originated by Wells Fargo Bank, Morgan Stanley Mortgage Capital Holdings LLC, JPMorgan, and Bank of America, National Association. This offering, solely comprising five-year loans, is the second on the BANK-5YR shelf. Basis’s acquisition covers various Investment Grade and B-Piece classes. 

“We believe that the combination of pool metrics, collateral quality and higher yields makes it an opportune time to invest in these positions and achieve above market risk-adjusted returns,” said Tammy K. Jones, CEO and founder of Basis Investment Group. “B-pieces are typically privately pre-placed through invitations to bid from loan sellers and access to entry is limited to a few select firms.”