Chiswick Park sale will not trigger CMBS prepayment, says BofA Merrill

Blackstone’s sale of Chiswick Park, the west London business park that was the underlying asset in Europe’s first post-crisis CMBS, to the China Investment Corporation will not trigger a prepayment of the outstanding CMBS debt, according to analysts at Bank of America Merrill Lynch.

  • By Joseph McDevitt
  • 13 Jan 2014
Blackstone first courted investor interest in the property at the end of 2012, only a year and half after Deutsche Bank securitized the financing loan in DECO 2011-CSPK. But a deal at that point could not be reached, partly because development of Building 7 in the complex was ...

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1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%