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15 January 20241 minute read

DLA Piper advises CMBS special servicer on FROSN CMBS defaulted loan extension

A cross-border DLA Piper team led by London partners Paul Gray, David Ampaw and Steven Krivinskas has advised Mount Street (as servicer and special servicer) in relation to the successful consensual extension of the circa EUR300 million CMBS loan backed by a portfolio of Finnish offices sponsored by Sponda, the Finnish real estate company owned by Blackstone.

Paul Gray, Finance partner at DLA Piper, commented: “This is an example of a truly consensual agreement between stakeholders to provide additional time to the borrower to maximise opportunities in the Finnish market. We are delighted to be able to support our long-standing client, Mount Street, in concluding this transaction.”

Paul Gray, David Ampaw and Steven Krivinskas were supported by senior associates Angus Milne and Xi Chen (London) and Partner Mikko Luukkonen (Helsinki).