Bond sale tied to Aby Rosen’s 475 Fifth Ave shelved
Aby Rosen’s plan for a bond sale tied to the mortgage of an RFR Midtown office building was disrupted by an unforgiving interest rate environment. The $175 million offering attached to 475 Fifth Avenue was postponed, Bloomberg reported. The bond was expected to be priced several weeks ago before the delay. RFR and Pacific Coast Capital Partners were sponsoring the offering, which was being marketed by Mesirow Financial. The offering included a $74 million, AAA-rated tranche that carried a spread of roughly 1.80 percentage points over the benchmark, according to a presale report from Morningstar DBRS. Mesirow declined to comment, […]
This article originally appeared on The Real Deal. Click here to read the full story.
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