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Walker & Dunlop Arranges $163M Refi on Flatiron District Offices
Walker & Dunlop, Inc. arranged a $163,427,059 permanent loan to refinance 122 Fifth Ave., a 278,000-square-foot, Class A mixed-use office and retail property located in Manhattan’s Flatiron District. The firm arranged the loan on behalf of Bromley Companies, the longtime owner and developer of the property.
Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, Christopher de Raet and Jack Krentzman of Walker & Dunlop Capital Markets Institutional Advisory arranged the fixed-rate, interest-only financing from Helaba Bank and Deka-Bank. The loan will refinance the existing debt on the property.
Recently revitalized through a $107-million capital improvement program, 122 Fifth Ave, is anchored by Microsoft and Chime under long-term leases. “Bromley Companies’ strategic reinvestment in 122 Fifth Ave, has elevated the building into one of Midtown South’s premier mixed-use assets,” said Appel. “This property is a top destination for leading technology, media, and creative firms shaping the Midtown South market.”
- ◦Financing
