Stark Financing 2023-1 DAC

Stark Financing 2023-1 DAC is a one-loan conduit securitisation arranged by Merrill Lynch International (BofA Securities) and Deutsche Bank AG, London Branch. The commercial real estate senior loan was advanced to Sussex Bidco LP, ultimately owned by The Blackstone Group Inc. in connection with the recent acquisition of Industrials Real Estate Investment Trust Limited (the Target). To streamline the current structure and rationalise the intragroup debt of the Target, the sponsor is expected to establish a new holding structure, still within the UK real estate investment trust regime.