Manhattan office tower purchase is priciest ever backed by CMBS

Ivanhoé Cambridge and partner Callahan Capital Properties' $2.2bn purchase of 1095 Sixth Avenue (3 Bryant Park) in Manhattan earlier this month was the priciest acquisition of a single US office building ever funded with a CMBS deal. The deal was reportedly backed by a $1.3bn fixed-rate, standalone CMBS loan originated by Deutsche Bank.