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Newmark’s Roeschlaub and Stolly Arrange Refi of Presidents Plaza Office Complex
Newmark arranged a $147.5-million loan on behalf of Angelo, Gordon & Co. and Glenstar Properties to refinance Presidents Plaza, an 830,789-square-foot, Class A office complex at 8600-8700 West Bryn Mawr Ave.
The Newmark team was led by Jordan Roeschlaub and Dustin Stolly, co-heads of Newmark’s New York Debt & Structured Finance team; along with senior managing directors Chris Kramer and Nick Scribani; and director Eden Abraham and associate Ben Kroll. Bank of America provided the loan.
“The appetite from the lender community on this opportunity was tremendous,” said Roeschalub. “The continued execution of the business plan post-COVID was a clear indicator to the lending community that this office product is still clearly in demand.”
Stolly added, “The Angelo Gordon and Glenstar teams did an exceptional job revamping this asset and now have very favorable financing in place to continue to reap the benefits of significant mark to market upside.”
- ◦Financing
