The first new commercial mortgage securitization to hit the market in two weeks is backed by a portfolio of cold storage facilities.

Cold Storage Trust 2017-ICE3 is secured by a single, $1.295 billion loan that Lineage Logistics obtained from Goldman Sachs and JPMorgan Chase. This loan pays only interest, and no principal, for an initial term of two years, but can be extended for one year up to three times, for a total term of five years. It is collateralized by 54 cold storage facilities spread across 17 states.

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