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Tishman Speyer Seeks $3.5B for Rockefeller Center Refi
Tishman Speyer is seeking to raise $3.5 billion for debt refinancing on Rockefeller Center, the Financial Times reported. Bank of America and Wells Fargo are leading the offering.
The structure of the deal will be a single-asset, single-borrower CMBS. The Canada Pension Plan Investment Board is in discussions to participate in the transaction, and Tishman Speyer and the would-be lenders believe the offering will be a success, reported the FT, citing sources familiar with the matter.
The FT reported that the extent of the success or failure of the deal is being closely watched as a bellwether for financings of other trophy Midtown Manhattan properties. The MetLife Building at 200 Park Ave., Brookfield’s Manhattan West complex and properties in the Hudson Yards zoning district could follow, according to the FT.
The Art Deco Rockefeller Center complex was built in the 1930s. Tishman Speyer has managed the complex for decades.
- ◦Financing
