Deutsche Bank Delays CMBS Deal Tied to Its New York Headquarters
- Transaction postponed due to macro volatility, analysts say
- GIC, ADIA are among the CMBS deal’s sponsors, investor says
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A nearly $1.5 billion single-loan commercial mortgage bond linked to Deutsche Bank AG’s new headquarters in Manhattan’s Columbus Circle was postponed last week amid market weakness, according to Wall Street research reports and bond investors.
GIC Pte, Singapore’s sovereign wealth fund, and the Abu Dhabi Investment Authority were the sponsors on the single-asset, single-borrower (SASB) commercial mortgage bond, driving the securitization financing, according to John Kerschner, the head of U.S. securitized products investing at Janus Henderson.