Citigroup and Goldman Sachs are marketing nearly $2 billion of bonds backed by commercial mortgages used to facilitate Blackstone Real Estate Partners VIII’s acquisition of BioMed Realty Trust, a real estate investment trust that owns, manages and develops office and laboratory space.

On Jan. 27, Blackstone completed the acquisition of BioMed for total consideration of approximately $8.8 billion. The properties securing the two loans being securitized in this CMBS, dubbed CGGS Commercial Mortgage Trust 2016-RND, represent a substantial portion of BioMed’s stabilized lab office portfolio, according to Fitch Ratings.

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