Deutsche Bank is planning to sell £300 million of commercial mortgage-backed securities (CMBS) on a loan secured by Blackstone, Reuters reports. The securities will be backed by a loan used by the asset manager to acquire Chiswick Park office complex in London.
The loan to Blackstone is likely to be finalized by end-March and sold to investors as bonds in the second quarter of 2011. Blackstone agreed to buy the office park for about £480 million for which Deutsche is providing £360 million of financing, adds Financial Times.
Click here for the story from Reuters.
Click here for additional coverage from Financial Times.
