The $714 million financing package that Citibank, Bank of Montreal and Starwood Property Trust provided against the Yorkshire and Lexington Towers apartment buildings in Manhattan’s Upper East Side neighborhood carries a blended rate of 4.07 percent. A senior component pays a coupon of 3.04 percent. That’s only 23 basis points more than the five-year Treasury on May 12, when the loan was originated.

The post Financing Against Manhattan’s Yorkshire and Lexington Towers Carries Tiny Coupon appeared first on Commercial Real Estate Direct.