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Cushman & Wakefield Secures Life Company Acquisition Debt on Manhattan Offices
Cushman & Wakefield’s Austin-based Equity Debt & Structured Finance (EDSF) team of Chase Johnson and Caleb Riebe has closed $24 million in acquisition financing for The Plant, a 246,343-square-foot office building at 321 W. 44th St. in Midtown Manhattan. Johnson and Riebe sourced the loan via a life company lender.
The Plant is a renovated, Manhattan office property that is currently 56% occupied. Its tenant roster includes Broadway Dance Center, TagWall, AKA NYC Limited, Sony Records and Sunlight Studios.
“Securing this loan in such a challenging lending environment for office properties is a testament to our team’s dedication and expertise,” said Johnson, managing director with Cushman & Wakefield. “We are thrilled to have played a role in the continued success of The Plant and look forward to its bright future with new ownership.”
- ◦Sale/Acquisition
- ◦Financing