The lender is Deutsche Bank.
4) Lofty pursuit $315 million
After offering concessions on rentals at 180 Water Street earlier this year, Nathan Berman s Metro Loft Management bought out its partner Vanbarton Group and has since refinanced the conversion property with debt from SL Green, Deutsche Bank and USAA. Metro Loft is at work on a new conversion at 20 Broad Street, which will hold 521 units.
5) Geopolitical intrigue meets routine real estate $225 million
In June, the federal government ordered the seizure of the Iranian government’s 60 percent stake in 650 Fifth Avenue. But business must go on, so investors Jeff Sutton and SL Green refinanced their hold on the retail space with $225 million from Aareal Bank. Aareal Bank also financed Sutton and SL Green’s 724 Fifth Avenue in January with $235 million in financing.
6) Who says you can’t get a construction loan? $215 million
They say find something you love and do it for the rest of your life. For Bank of the Ozarks, that’s condos. Three developers, Strategic Capital, Forum Absolute and Cape Advisors, got construction financing from the Little Rock-based bank for the development of 537 Greenwich Street. The developers have said they are planning apartments that will measure smaller than the average for Manhattan.
7) Fenter taps HFA for refi $201.8 million
The state’s Housing Financing Agency won’t do any new loans for 80/20 buildings, but you can still refinance the old ones. Fetner Properties did just that at the 458-unit 125 West 31st Street. The package included $25 million of new debt. Durst Organization developed the property with Fetner in 2005, naming it the Epic.
8) Acquiring minds want to know $146.2 million
New York REIT has been letting go of its Manhattan buildings right and left, and the Columbia Property Trust picked up 245-249 West 17th Street last month, a Chelsea office building. The company borrowed $146.2 million from the affiliated Columbia Property Trust Operating Partnership for the acquisition.
9) A related refi $130 million
Related Companies ref
上海龙凤论坛sh1f inanced the luxury rental building a 281 Hudson Street with $130 million from Wells Fargo. Market rate rentals launched at the building in April, and 41 affordable units were offered through the city housing lottery.
10) Hit that A note $125 million
Family firm Jack Resnick Sons refinanced the Symphony House mixed-use building at 235 West 56th Street. Prudential Asset Resources was the lender. The building hold 480 apartments and several ground floor retail spaces.
Tags: Commercial Real Estate, Deutsche Bank, goldman sachs
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