Barclays will underwrite a securitization of a single commercial loan that is secured by a portfolio of office properties owned by Blackstone Real Estate Partners, according to Morningstar.
The deal BBCMS Trust 2014-BXO will offer $146.4 million of senior rated securities backed by a single loan. The loan has an initial term of two years and three one-year extension options. The loan provides for interest only debt service payments at an interest rate of one-month LIBOR plus 2.6%. The loan payments are interest-only for the entire loan term, including extension periods.