Goldman launches CMBS funding Stena’s portfolio sale to Fortress
Goldman Sachs has launched a multi-borrower CMBS backed by office buildings in Austria, Finland, France, Germany and the Netherlands. Around half of the deal funds a portfolio that Fortress recently bought from Stena AB’s real estate arm.
The CMBS deal, dubbed Berg Finance, is backed by two loans to unrelated groups — the €148m loan to Fortress, which is known as Big Mountain, and a €150m loan to Ares, labelled Sirocco.
Fortress' acquisition from Stena comprised 25 office and was initially financed on March 17....