The existing loan, which is split between the two aforementioned deals, was modified and bifurcated in 2012. The original $300 million note was split into a $190 million A note and a $100 million Hope note. The loan has 23 months to run and can prepay freely now.
By far the biggest exposure comes to the GG11 deal. Between the A note and the Hope note, Bush Terminal represents over 13% of the remaining collateral. We will provide more complete stats on the average life exposure tomorrow morning.
Courtesy of Trepp LLC – Trepp LLC is a member of the EACCNY