In an announcement Thursday, Realpoint, a credit rating agency based in Horsham, Pennsylvania, said it has been selected to rate the Inland Western Real Estate Trust Inc. commercial mortgage backed securities (CMBS) transaction which is being underwritten by JPMorgan Securities Inc.

Inland Western, a self managed real estate investment trust (REIT) headquartered in Oak Brook, Illinois, announced Tuesday that the company had obtained a new secured loan from JPMorgan. The $625 million, non-recourse ten-year loan is secured by a portfolio of 55 retail properties in a joint venture owned by Inland Western and principals of The Inland Real Estate Group, Inc. In the latest sign of revival in the new-issue CMBS market, JP Morgan is likely to sell $500 million of the $625 million loan as CMBS, efinancialnews.com said.

This represents the first new-issue CMBS to be rated by Realpoint and signifies the company’s continued effort to build its presence in the rating agency space. The company, which claims to be the leading provider of surveillance analysis and ratings for CMBS in the secondary market, was designated as a Nationally Recognized Statistical Ratings Organization (NRSRO) by the SEC in June 2008, a TALF-approved rating agency by the Federal Reserve in May 2009, and an “acceptable ratings organization” by the national association of insurance commissioners in September of this year.

“We are extremely pleased by this recent development,” said Robert Dobilas, Realpoint’s CEO. “This development will allow us to finally deliver on our promise to the market to deliver a better ratings solution to investors. We want investors to know that we are committed to setting a new standard for ratings transparency, analysis, and customer support.”

Currenly more than 225 institutional investment firms use Realpoint’s subscription-based surveillance services as part of their CMBS investment platforms. The company aims to increase market transparency and provide investors with the highest quality ratings and analysis by offering a wide array of securities research, surveillance services, data, and technology solutions.

“Investor support for Realpoint has been the single most important factor driving our success in the ratings arena,” said Joe Petro, managing director of Realpoint. “Investors have long been seeking a better approach to the ratings process. Our presence in the new-issue side of the market provides investors with more choices, and will ultimately drive competition based on the quality of the analysis and the transparency of the process provided by the rating agencies.”

The JPMorgan CMBS offering represents one of the first of only a few new commercial mortgage bond deals to be put together by lenders in over a year. As DSNews.com reported last month, Bank of America is also readying a $460 million CMBS for sale. After a one year freeze, the market thaw came from $400 million in debt backed by 28 retail shopping centers which was offered up by Developers Diversified Realty Corp. and underwritten by Goldman Sachs. There was strong investor interest as it was the year’s first commercial mortgage bond deal.