The REIT obtained a $2.3 billion loan on the 50-story office and retail property from four banks; a $1.3 billion portion serves as collateral for BXP Trust 2017-GM.
Freddie Mac has priced its first credit-risk transfer securities backed in part by tax-exempt loans used to finance affordable multifamily rental properties.
The $500 million commercial mortgage that serves as collateral was underwritten by Deutsche Bank and Citigroup; it allowed the building's owner, Alexander's, to cash out $187 million of equity.
Insurance companies surveyed by CREFC and Trepp continued to boost their allocations to commercial real estate in 2016, albeit at a slower rate than in 201.
Late payments on securitized commercial mortgages fell in May, bucking the trend of the past year. But all of the improvement came from office buildings.
A real estate investment fund controlled by the Blackstone Group is tapping the commercial mortgage bond market to refinance a portfolio of life science, laboratory and medical properties.
Two Harbors Investment Corp. is spinning out its commercial real estate lending business to a newly created real estate investment trust, Granite Point Mortgage Trust Inc.
