Bank of America will refinance the 51-story office tower it co-owns with the Durst Organization on Bryant Park with help from J.P. Morgan Chase & Co., sources close to the deal said.
The refinancing comes a mere 10 months after the owners refinanced the Bank of America Tower at One Bryant Park with a $1.28 billion, three-year loan. Sources say this time the owners are seeking a 10-year loan for $1.3 billion that will be partially securitized and sold to a variety of investors.
Maybe there was some concern that is beyond my scope of reasoning, but why is JP underwriting this loan when the building houses most of BOA's CMBS operation? I have some thoughts on the matter, but will leave it open for discussion...
Posts
1 comment:
Is Durst the gp? if so, they could be a client of JPM and just felt more comfortable w/ them..another possibility - 'appearance' of conflict of interest if BoA underwrites, partly owns and has major lease in the collateral..
Post a Comment