GM Building single asset CMBS launched

GM Building_230x150
By Max Adams
21 Jun 2017

A $1.35bn single asset CMBS transaction backed by the iconic GM Building in Manhattan came to market on Wednesday.

BXP 2017-GM, co-led by Morgan Stanley, Citi, Deutsche Bank and Wells Fargo, was launched at 92bp over swaps for the $494m triple-A rated ‘A’ class, in line with price guidance. The offering was rated by Moody’s, Fitch Ratings and Kroll Bond Rating Agency.

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