The former Bear Stearns headquarters building at 245 Park Avenue, a long-time home to cornerstone financial services tenants as well as Major League Baseball, is the sole property backing a new single-borrower $500 million commercial mortgage securitization.

The 245 Park Avenue Trust 2017-245P is being secured by portion of a $1.02 billion mortgage issued to a Chinese conglomerate, HNA Group. HNA was the lead on a consortium that acquired the 1.72-million square foot, Class A office tower for $2.2 billion in March.

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