AB Commercial enters $151 million loan agreement with HSBC

Chicago, Dec. 13 – AB Commercial Real Estate Private Debt Fund, LLC’s subsidiary AB CRE PDF TNVA1 LLC entered into a $151 million loan and security agreement with HSBC Bank USA, NA as administrative agent as part of a note-on-note loan transaction, according to an 8-K filing regarding the Dec. 7 transaction.

Interest will be at the greater of 5.25% and SOFR plus 225 basis points with a 0% floor.

Security is a first priority security interest in certain collaterally assigned loans.

The initial maturity date is Dec. 7, 2026, with the possibility of extension.

AB Commercial is based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.