| Class | Size ($MM) | Ratign (F/S) | WAL | Px Talk |
| A | $ 350 | AAA/AAA | 6.67 | S+190-210 |
| B | $ 30 | AA/AA | 7.11 | S+385-405 |
| D | $ 33 | A/A | 7.11 | S+435-455 |
| D | $ 47 | BBB-/BBB- | 7.11 |
LTV= 51.48%
DSCR 2.10x
Florida.
Office (65.6%), Industrial (11.8%), RoW/Excess Rail (22.6%). 44 Properties and multiple parcels.
Flagler's a subsidiary of Fortress, which bought it and affiliates back in 2007 for $3.5 bln. Obviously the WAL is longer than any TALF loan, so unlikely to get much TALF interest, if any.
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1 comment:
Reuters is saying the deal priced with the A tranche going at N+225, wide of guidance.
I haven't seen it though.
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