The second commercial mortgage securitization designed to comply with risk retention is backed by a single loan on a Manhattan skyscraper.

Deutsche Bank provided the $254 million first mortgage on the property at 667 Madison Ave. The 10-year loan pays only interest, and no principal, for its entire term. It was used to defease a mortgage that was set to mature in 2007.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry