Times Square billboards included in latest US CMBS

A new single asset CMBS deal from Natixis is backed by cashflows from a mixed use development in Manhattan’s Times Square that includes LED signage, partly unoccupied retail space and a Marriott hotel that is not slated to open until the summer of 2018.

  • By David Bell
  • 08 May 2018

The $600m deal, 20 Times Square Trust 2018-20TS, is backed by a portion of a $750m mortgage loan secured on a development under construction at 20 Times Square that is owned by Maefield Development.

The remaining $150m of senior pari passu debt will be financed in future securitizations, according ...

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