The Goldman Sachs-underwritten deal to market a new $400 million CMBS deal sweetened with TALF financing for Developers Diversified Realty Corp. is getting a lot of attention because it has been a long time since any kind of CMBS deal got done. The number of REITs trying to put together TALF-enhanced CMBS issues has reached at least 12. A close look at the specific requirements of TALF suggests they're going to have to do a lot of work to get these deals to the capital markets.

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