Next single-asset CMBS backed by Bloomberg building

Deutsche and Citigroup are marketing $500 million of bonds backed by a commercial mortgage for the Bloomberg Building headquarters complex in midtown Manhattan.

The two-tower structure at 731 Lexington Avenue is the lone property securing the mortgage being pooled into the deal, dubbed DBCG 2017-BBG. The capital structure includes a $393 million senior note tranche with preliminary triple-A ratings from Kroll Bond Rating Agency and Fitch Ratings.