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LENNAR FLORIDA PARTNERS I, LP 1993-1 CLASS A-1 & A-PO RATED 'AAA' -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 5 /PRNewswire/ -- Lennar Florida Partners I, LP's $44.8 million commercial mortgage pass-through certificates series 1993- 1, class A-1 and A-PO are rated "AAA" by Fitch. The $7.5 million class A-2 certificates are rated "AA," $6.6 million class A-3 certificates "A," $4.1 million class B-1 certificates "BBB," $6.6 million class B-2 certificates "BB," and $8.3 million class B-3 certificates "B."
 The ratings reflect the performing nature of the pool, the property type diversity, the presence of Lennar Florida Partners as sub-servicer, the use of excess funds to reduce class B certificate principal, and subordination of classes A-2 (9 percent), A-3 (8 percent), B-1 (5 percent), B-2 (8 percent), B-3 (10 percent), and R (6 percent). The ratings also exhibit Fitch's confidence in the integrity of the transaction's legal and financial structure. Negative factors include the Florida concentration, a small number of matured performing loans and 30-day delinquencies, and a lack of operating history for some loans.
 The 232 mortgage loan pool consists of 45.7 percent fixed rate loans and 54.3 percent adjustable rate loans. Multifamily properties represent 26 percent of the pool, with the balance of the pool well distributed among retail, industrial, office, storage, mobile home park, and other uses. The weighted average debt service coverage on the 79 percent of loans with operating information is 1.39 times.
 The mortgage loans were originated or acquired by AmeriFirst Federal Savings Bank, and purchased by Lennar Florida Partners in 1992 from the Resolution Trust Corp., in its capacity as receiver of AmeriFirst.
 Marine Midland Bank, N.A. will act as trustee for the pool, with Bankers Trust Co. acting as master servicer and Lennar Florida Partners acting as sub-servicer. Bankers Trust Co. will be responsible for advancing funds through liquidation in the event of a default. A segregated asset pool within the trust fund will be treated as a real estate mortgage investment conduit for federal income tax purposes.
 -0- 11/5/93
 /CONTACT: Kent Born of Fitch, 212-908-0627/


CO: Lennar Florida Partners I ST: Florida IN: FIN SU: OFR

LG -- NY052 -- 1291 11/05/93 14:42 EST
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Date:Nov 5, 1993
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