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Ashkenazy Turns to CMBS, South Korean Debt to Refinance Union Station

Ashkenazy Acquisition has closed on $430 million in borrowings to refinance the landmark Union Station complex, a major Washington, DC retail and transportation hub. Citigroup Real Estate Funding and Natixis Real Estate Capital have provided $330 million in financing that will be securitized and offered in a single-asset, single-borrower mortgage-backed securities offering. In addition, South Korea-based KTB Asset Management has invested $100…

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