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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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2 Rabobank 1,292.64 1 20.01%
4 BNP Paribas 598.25 2 9.26%
5 TD Securities Inc 241.54 1 3.74%