Morgan Stanley is issuing a whole loan of €145m (£110.4m) to finance Starwood’s purchase of Elm Park, Dublin 4, from Irish bad bank Nama.
The five-year €125m senior loan reflects a loan-to-value ratio of 62% on the €200m purchase price and is priced at 280 basis points over three-month Euribor, while the €20m mezzanine loan is priced at 7.5%.
Morgan Stanley is expected to syndicate both elements.
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