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New York & Tri-State  + Midtown New York  + Office  |  May 14, 2026
Paul Bubny
By: Paul Bubny

Brookfield, Qatar Investment Authority Refi 2 Manhattan West for $1.9B

Brookfield at the Qatar Investment Authority have secured a $1.9-billion refinancing for 2 Manhattan West, part of the Manhattan West mixed-use complex. The non-recourse mortgage comes with a
10-year term and a coupon of 5.53%, or a 107-basis point spread.

“This allowed us to repay the prior $1.5-billion mortgage and generate $400 million of net cash, and we continue to own the building,” Brookfield said Thursday in a quarterly earnings announcement.

The consortium of lenders on the refi included Wells Fargo Bank N.A., Bank of America N.A., Bank of Montreal, Citi Real Estate Funding Inc., German American Capital Corp., and Santander Bank, N.A.

In a presale report for the securitization stemming from the loan, Manhattan West 2026-2MW Mortgage Trust, S&P Global cited the recently delivered property’s strong leasing profile along with the outperformance of the surrounding Penn Station/Garment submarket. Citing CoStar, S&P reported, “highly accessible trophy properties near major transit hubs in Midtown Manhattan continue to outperform the overall metro.”

Read More News Stories About: Brookfield Properties
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Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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