The Real Deal Miami

BofA, JPMorgan sell $1.67 billion in CMBS bonds

June 25, 2010 03:45PM

One Bryant Park

Bank of America and JPMorgan Chase have sold $1.67 billion worth of CMBS bonds nationwide thus far for 2010. Last year, $3.04 billion of debt was issued, down from $11.2 billion in 2008 and the record-breaking $232.4 billion in 2007. Sales of this kind include $650 million in bonds tied to a loan at One Bryant Park, the new 51-story, 2.1 million-square-foot skyscraper in Midtown Manhattan also known as the Bank of America Tower. According to Bloomberg, the issue was only the third sale this year of new commercial mortgage-backed securities that contained loans not backed by the government.  [Bloomberg]