Debt backing UBS's trading floor complex in Stamford up for sale

New York

THE distressed US$149.4 million loan that backed UBS Group AG's giant trading floor complex in Stamford, Connecticut, is up for sale, according to a person with knowledge of the offering. CWCapital Asset Management, the servicer that controls the property's defaulted mortgage, has put the loan on the market through financial consultant Mission Capital Advisors LLC, said the source, who asked not to be identified because the information is private.

The loan's status is "matured non-performing" after having been placed in special servicing earlier this year, according to data compiled by Bloomberg. Purchasing the loan would give the buyer control of the former UBS property, where the trading floor was the largest in the world.