...The certificates represent the beneficial interests in the mortgage loan securing the fee interest in two office condominium units totaling 909,687 sf within a 1.3 million sf, mixed-use tower located at 731 Lexington Avenue between 58th and 59th streets in New York City. German American Capital Corporation, JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A. are the co-originators of the $400.0 million, four-year, fixed-rate, IO loan. The mortgage loan is expected to be made to 731 Office One LLC, a recycled, special purpose, bankruptcy-remote entity owned and controlled by Alexander's, Inc. Alexander's is a REIT listed on the New York Stock Exchange under the ticker symbol "ALX". Alexander's and its portfolio of properties are managed and administered by affiliates of Vornado Realty Trust, L.P. The loan was previously securitized in the DBCG 2017-BBG securitization with an original balance of $500.0 million. Per Trepp, the loan has performed as agreed with no defaults. The loan proceeds,...
