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New York & Tri-State   /   February 11, 2021

Paul Bubny
By: Paul Bubny

Walker & Dunlop Structures $205M for Midtown West Life Science Property

Walker & Dunlop structured $205,000,000 in financing for 619 W. 54th St. in Midtown West. Also known as Hudson Research Center, the Class A life science and medical office property is owned by a joint venture of Silverstein Properties, Inc. and Taconic Partners

The financing was arranged by Walker & Dunlop’s Aaron Appel, Keith Kurland, Mo Beler, Jonathan Schwartz, and Adam Schwartz, as well as Michael Diaz, Michael Ianno, and Sean Bastian. The team identified Square Mile as the ideal capital source, and arranged the interest-only financing with an attractive floating rate, three-year term, and two one-year extension options.

“Walker & Dunlop witnessed an incredible amount of demand for this financing given the best-in-class sponsor and attractive asset type, despite a challenging capital markets landscape during the COVID-19 pandemic,” said Kurland.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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