Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bank of America Selling CMBS Backed by Apollo Real Estate Loan

June 17 (Bloomberg) -- Bank of America Corp. is selling 211.5 million pounds ($358.8 million) of bonds backed by commercial properties in the U.K.

The notes will be the third commercial mortgage-backed securities sold in Europe this year, according to data compiled by Bloomberg. The debt is secured by a loan made by Bank of America to Apollo Global Management LLC for the purchase of secondary quality properties, according to Matthias Baltes, head of commercial real estate financing at Bank of America in London.

Commercial mortgage bond sales slumped to 133 million euros ($180 million) in Europe this year, the least since the same period of 2008 and a fraction of the 6 billion euros issued in the first six months of last year, according to JPMorgan Chase & Co. The deal is unusual because the debt is linked to 132 properties rather than to a single trophy asset, Baltes said in a telephone interview.

“There haven’t been tonnes of deals done and one of the reasons is that to find the right fit as far as collateral is concerned is not that easy,” Baltes said.

To contact the reporter on this story: Alastair Marsh in London at

To contact the editors responsible for this story: Shelley Smith at Michael Shanahan

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.