Goldman, Citigroup expected to sell commercial debt

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Goldman Sachs Group Inc. and Citigroup Inc. hope to sell nearly $900 million in commercial-mortgage-backed bonds, Bloomberg reported.

Citing an unnamed source said to be familiar with the matter, Bloomberg reported that the $876 million worth of securities, most of which are tied to retail centers and office buildings, are supported by 43 loans on 108 U.S. properties.

An $88 million loan on a nearly 400,000-square-foot office building in downtown Manhattan is the largest mortgage in the Goldman Sachs and Citigroup offering, 38.8 percent of which is secured by retail buildings, followed by office space with 33.8 percent.

Loans secured by hotels account for 8.6 percent of the deal, and loans on properties in Pennsylvania and Ohio properties make up 33.9 percent of the transaction.

The bonds are expected to be sold next week.