News
LOVE ME LENDER
November 15, 2010
| In one of the largest loans originated in Manhattan in the downturn, the Bank of China provided Brookfield Office Properties with an $800M loan to refi 245 Park Avenue. (Related note: One Elvis real estate song nobody's singing? "Heartbreak Hotel.") |
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| JLL vice chair Robert Martin assisted with the refinancing of the 1.7M SF tower. That not's all: Last week, JLL and JLL Hotels also closed on a $92.5M senior loan for the 460-room Hilton Times Square. The 10-year, fixed-rate loan with a sub 5% interest rate was secured through Bank of America Merrill Lynch and was used to refi the existing loan set to mature in December. The new loan will be used to repay existing debt with a balance of $81M and 5.9% interest rate. JLL's Matthew Comfort and JLL Hotel's Jeffrey Davis led the team on the transaction. Who's going to beat them this week? |
