295 Fifth Ave owners push for revival with refinancing
A landlord trio secured more than $200 million in fresh debt following the renovation of their 19-story Midtown South office building. PGIM, Tribeca Investment Group and Meadow Partners landed a $228.9 million loan to refinance 295 Fifth Avenue, otherwise known as the Textile Building, the Commercial Observer reported. Rialto Capital Management and Hines issued the floating-rate, interest-only bridge debt. The sponsorship group last secured $150 million in debt from Deutsche Pfandbriefbank in November 2022. That followed the start of a $350 million capital improvements project, featuring the addition of a ground-floor courtyard, several terraces, hospitality amenities and a two-story penthouse. […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
The Summer 2026 Rent-to-Payment Report: Where You Can Still
Cash Flow With Real Estate
From Handwritten Letters to 14 Units: How a College Freshman
With No Credit Built a Cash-Flowing Portfolio
Zillow: $1,000/Month Cash Flow Exists in These
Markets
Citywide ballot measures pitch faster permitting,
procurement
Turret takes over debt on troubled Upper East Side condo
buildings
BXP putting 7 Times Square ground lease on the
market
Park Slope fixer-upper tops Brooklyn’s luxury contracts
after 34% price cut
Former Mets ace strikes neighborhood peak with $26M Soho
flip
Is Mamdani’s “tenant equity” program oxymoronic? Or just
moronic?
