A $130m loan secured by Crow Holdings’ Dallas Market Center in Dallas, Texas is the largest loan behind a new Goldman Sachs CMBS deal.
The 10-year Dallas Market Center loan carries a 4.0975% interest rate and 30-year amortization.
Crow Holdings, a real estate and investment firm, paid $140m in March to buyout a remaining 82% stake in the complex from former ownership partner CNL Financial Group, a real estate investment trust.
The $1.24bn securitization from Goldman Sachs, GS Mortgage Securities Trust 2015-GC30, consists of 89 mortgage loans secured by 178 commercial real estate properties.
The Crow purchase included the World Trade Center, Dallas Trade Mart, International Trade Plaza, and Market Hall, which combine to make up one of the largest wholesale merchandise mart in the country. The center showcases apparel, gifts, home and garden furnishings, lighting, floral and gourmet products.
CNL paid $71m in cash and assumed part of a $160m debt package in 2005 for its majority ownership in the center.
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