New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$250M CMBS Loan for 75 Broad Street
April 12, 2017
JEMB Realty borrowed $250 million to refinance 75 Broad St, a 34-story, 650,000-square-foot tower in Manhattan’s Financial District. Natixis Real Estate Finance Americas provided the fixed-rate, CMBS loan.
The firm bought the empty, underperforming asset in 1999, and has spent more than $50 million on improvements. Its latest renovations upgraded the main lobby and common areas, resulting in 100,000 square feet of leasing.
“This is a great opportunity to be part of the dynamic growth and business expansion occurring in Downtown Manhattan, with a premier borrower like JEMB Realty on a market leading-building like 75 Broad,” said Greg Murphy, head of Natixis, which is an arm of French banking giant, Groupe BPCE.
For comments, questions or concerns, please contact Bendix Anderson
Subscribe to Connect Daily New York - ◦Financing
