ABN AMRO has launched the first public Australian commercial mortgage-backed security (CMBS) this year. Special purpose vehicle Aurora Place Holdings Pty issued the notes which are secured by a loan to the Commonwealth Property Investment Trust, (CPIT) which is ultimately secured by CPIT's leasehold interest on Aurora Place, the underlying collateral.

Aurora Place, currently known as ABN AMRO tower, was completed in October 2000. The main tenants are ABN AMRO, which occupies about 34% of the building, and Minter Ellison, which occupies about 28%.

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