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The special servicer has accepted a bid for the underlying assets, which were hit by the crisis in UK retail.
The firm is delving into the role public and private strategies play in institutional investor portfolios.
The manager says the transaction enables it to free up capital for future deals.
A UK logistics deal, sponsored by Blackstone, has become the market’s first issuance of the year.
The first CMBS-type deal in the sector in Europe is sponsored by US company Vantage Data Centres.
Noteholders in the retail-focused securitisation will vote on the proposal later this month.
The CMBS special servicer will leave the valuation in draft form until the future of the asset’s key tenant is clearer.
The manager upsized the offering owing to investor demand, as bond market sentiment improves.
The manager has sourced c€26bn of European debt since the start of 2023, and its borrowing specialist is confident about market conditions ahead.
The bank’s chief executive says he is confident it will 'get through' the challenging market conditions.