LAQ Mortgage Trust

Deals

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
A	USD	186.610	1.98	4.98	-	AAA	-	-	-	70.14%	-	Floating	SOFR	220a	215	1mSOFR+209	-	99.75000
B	USD	59.400	1.98	4.98	-	AA-	-	-	-	60.64%	-	Floating	SOFR	275a	275	1mSOFR+269	-	99.75000
C	USD	44.156	1.98	4.98	-	A-	-	-	-	53.57%	-	Floating	SOFR	350a	350	1mSOFR+344	-	99.75000
D	USD	58.348	1.98	4.98	-	BBB-	-	-	-	44.24%	-	Floating	SOFR	425a	425	1mSOFR+419	-	99.75000
E	USD	91.992	1.98	4.98	-	BB-	-	-	-	29.52%	-	Floating	SOFR	525a	525	1mSOFR+519	-	99.75000
F	USD	81.477	1.98	4.98	-	B-	-	-	-	16.48%	-	Floating	SOFR	700a	700	1mSOFR+693	-	99.75000
G	USD	71.760	1.98	4.98	-	NR	-	-	-	5.00%	-	Floating	SOFR	850a	850	1mSOFR+843	-	99.75000
HRR	USD	31.257	1.98	4.98	-	NR	-	-	-	-	-	Floating	SOFR	1025a	1025	-	-	99.75000

More Details

Filings

ABS-15G

Tranche Comments

A: First Pay: 2023-04-17; Registration: 144A/Reg S; B: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; C: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; D: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; E: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; F: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; G: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed; HRR: First Pay: 2023-04-17; Registration: 144A/Reg S; Comments: Pre-placed. Coupon: 1mSOFR+1018;

Deal Comments

Sponsor is a joint venture between affiliates of Cerberus Real Estate Capital Management LLC (70%), HG Vora Capital Management LLC (25%) and Highgate Capital Investments LP (5%)

Collateral

Two-year, floating-rate, interest-only, first-lien mortgage loan with three successive 12-month extension options secured by borrower’s fee simple or leasehold interests in 57 La Quinta flagged hotels and one Wingate by Wyndham flagged hotel totaling 7,992 keys across 20 states

Cerberus Capital Management LP

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
G	REX	59.623	3.64	9.89	PI	DDD-	-	-	-	81.56%	-	Qfbmhdeo	LCWG	-	365	1dEBMV+362	-	74.87309
W	VND	31.480	8.90	8.87	Ih3	UU-	-	-	-	58.86%	-	Uqdlkyov	QOCG	-	225	1kKHJJ+222	-	80.43280
S	RZH	38.930	5.91	9.30	X3	Z-	-	-	-	22.35%	-	Bdekqooy	HEOT	-	285	1eBXCC+282	-	29.76100
B	YWL	178.306	4.19	3.34	CB	RR-	-	-	-	71.41%	-	Vreyaicn	AQBT	-	490	1iITWI+487	-	93.80880
F	CMA	796.701	9.80	6.70	Xuu	PPP	-	-	-	36.56%	-	Rscsdzuq	ZZDC	-	175	1uWAVY+172	-	41.34219
C	EZW	293.248	2.38	5.88	VM	PA	-	-	-	9.00%	-	-	-	-	-	-	-	Retained
N	WWR	367.680	7.65	3.39	UT	N-	-	-	-	52.65%	-	Gaczlhag	JJXU	-	600	1tMWOZ+597	-	39.19142
XVV	YJQ	55.600	2.33	4.36	XD	BX	-	-	-	-	-	-	-	-	-	-	-	Retained

More Details

Filings

ABS-EE/A

Tranche Comments

F: First Pay: 2022-04-15; Registration: 144Y/Ysn C; W: First Pay: 2022-04-15; Registration: 144V/Eol Y; S: First Pay: 2022-04-15; Registration: 144O/Hys M; G: First Pay: 2022-04-15; Registration: 144W/Xvt U; B: First Pay: 2022-04-15; Registration: 144F/Mqz Y; N: First Pay: 2022-04-15; Registration: 144G/Eeo B; C: First Pay: 2022-04-15; Registration: 144U/Kha Z; XVV: First Pay: 2022-04-15; Registration: 144F/Lvc N;

Deal Comments

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