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Article: Legg Mason, Lehman Target Lease Deals

Article from:
Commercial Mortgage Alert
Article date:
June 2, 1997
Copyright

Legg Mason and Lehman Brothers are teaming up on lease-backed securitizations.

During the first year of the program, the duo expects to originate up to $750 million of mortgages on properties that are triple-net leased to tenants with corporate credit ratings that range from triple-A to single-B.

The marriage combines a strong player in lease financing with the top underwriter of commercial MBS. Legg Mason has been arranging credit-lease financings for seven years, while Lehman has ranked as the most-active CMBS underwriter for the past three years.

The agreement marks a shift in direction for Legg Mason, which has been operating a lease-backed program ...

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