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Moinian Closes on $310M Refi of Fifth Avenue Offices

The Moinian Group (TMG) said Wednesday it had closed a $310-million refinancing for 535–545 Fifth Ave., a 512,171-square-foot office property located in Midtown Manhattan. According to published reports, Deutsche Bank and Société Générale provided the refi.

The new loan replaces existing debt on the property and provides long-term, stable financing for the asset. The transaction was completed amid a challenging capital markets environment, TMG said.

“This refinancing underscores the value of prime Fifth Avenue assets and our disciplined approach to asset management,” said Joseph Moinian, founder & CEO of TMG. “We are pleased to secure attractive financing that positions the property for continued long-term success.”

The CBRE team of Drew Anderman with Eddie Haber, AJ Bruno and Jared Fried advised TMG on the 535-545 Fifth refinance, as well as a $200-million financing to continue the conversion of 17 Battery Park South to include more residential floors. In addition, Rob Verrone of Iron Hound Management advised TMG regarding modifications to the 535-545 Fifth transaction.

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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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