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Talmage Named Servicer on Grace Building

NEW YORK CITY—The firm's strategy involves working on only a limited number of high-profile transactions annually.

By Rayna Katz | Updated on June 16, 2014

NEW YORK CITY—Talmage has been named the special servicer for the $900 million, seven-year fixed rate CMBS loan secured by the W.R. Grace building. The iconic 1.6 million-square-foot sloped office tower—located at 1114 Ave. of the Americas and overlooking Bryant Park—is securitized in the GRACE 2014-GRCE CMBS loan, which closed on June 12th. The joint bookrunners and co-lead managers were Deutsche Bank Securities, BofA Merrill Lynch and J.P. Morgan.

“It is a continuation of our special servicing strategy of working on a limited number of high-profile transactions each year,” says Edward L. Shugrue III, CEO of Talmage. Officials at the firm did not return calls from GlobeSt.com seeking additional comment by press time. Watch this space for any updates.

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