Bank of America refinances office with new CMBS, muni structure

06/22/2010 | Reuters

Bank of America and New York real estate developer Douglas Durst are refinancing the 2.1 million-square-foot, 52-story 1 Bryant Park with a combination of commercial mortgage-backed securities and Liberty bonds. The CMBS portion of the structure -- a $650 million, AAA-rated tranche -- will be the largest since the markets reopened last year.

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