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Ivanhoé Cambridge, Hines Score $1.1B Refi for 3 Bryant Park
JLL’s Capital Markets group arranged a $1.125-billion refinancing for 3 Bryant Park, a 1.2-million square-foot, trophy office tower located in Midtown Manhattan. A JLL team of senior managing directors Christopher Peck and Drew Isaacson, managing director Lauren Kaufman and directors Jennifer Zelko and Christopher Pratt represented owner Ivanhoé Cambridge as well as asset manager Hines to arrange the refinancing led by Wells Fargo, Bank of America and Bank of Montreal.
“The successful refinancing of a globally renowned trophy office such as 3 Bryant Park signals a shift in market perception and offers an optimistic outlook for the future,” said Peck. “The property’s exceptional tenant roster, prime location, and record utilization have positioned this transaction as arguably the most significant office refinancing of its scale in the post-pandemic era.”
The 42-story 3 Bryant Park is currently 97.2% leased. A majority of the tower is occupied by creditworthy tenants, including Salesforce, Stifel, Dechert LLP, US Bank, Lloyds Bank and Standard Chartered.
- ◦Financing
