News
Brookfield: $800M for 245 Park Ave Isn’t Enough
April 6, 2015
Image: Wikipedia
Brookfield Property Partners is looking to up the amount on its loan from the Bank of China for 245 Park Ave. It has an $800M loan now, and Brookfield’s looking to make it an even $1B. The deal’s due to close later this month. LTV will stay below 50%, even with the $200M boost, according to the Commercial Observer. Brookfield and the Bank of China go back a ways: In 2010, the bank did the biggest loan ever by a Chinese bank’s NYC branch to refi Brookfield’s Park Avenue Tower. [CO]
