(Read more on the debt and equity markets.)

NEW YORK CITY-Charlotte, NC-headquartered Commercial Defeasance LLC, which opened a local office Aug. 30, has coordinated the $800-million defeasance of the General Motors Building. The need to defease the existing loan encumbering the property, located in Midtown at 767 Fifth Ave., was triggered by a refinancing of the existing fixed-rate CMBS debt by Deutsche Bank.

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