...The certificates represent the beneficial ownership interests in a trust that will hold a $2.0 billion, five-year, fixed-rate, IO mortgage loan secured by a fee simple interest in 245 Park Avenue, a 1.78 million sf, trophy quality, LEED Gold-certified 44-story office tower located within the Park Avenue office corridor of Midtown Manhattan in New York City. The loan is sponsored by a joint venture comprising SL Green Realty Corp., SL Green Operating Partnership, L.P. and Mori Trust Holdings Inc. Mortgage loan proceeds, combined with approximately $31.6 million in cash equity, will be used to refinance $1.768 billion in prior debt, fund about $226.6 million in outstanding landlord obligations and pay an estimated $37.0 million in closing-related costs. The mortgage loan is expected to be co- originated by JPMorgan Chase Bank, National Association (JPMCB); Bank of America, National Association (BANA); German American Capital Corporation (GACC); Bank of Montreal (BMO); Goldman Sachs Bank USA...
