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Walker & Dunlop Lines Up $170M Loan on Historic Fifth Avenue Mixed-Use
Walker & Dunlop, Inc. arranged $170,000,000 in financing from PCCP, LLC for 122 Fifth Ave., a historic mixed-use office and retail building between West 17th and 18th streets. The property, owned by Bromley Companies for more than 40 years, is currently undergoing a comprehensive renovation and repositioning plan.
The capital markets team of Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, as well as Sean Bastian and Michael Ianno, arranged the financing. The loan refinances the property’s existing loan in addition and provides funding for capital expenditures and tenant improvements necessary to undertake the extensive redevelopment.
“With a brand-new look and feel, 122 Fifth will cement itself as an extremely valuable property within Bromley’s diverse portfolio,” said Appel. “It has been fully occupied for almost 30 years, and will no doubt continue to attract the world class technology, media, and enterprise companies that are positioned in the area.”
- ◦Financing
