Fosun on verge of $900M refi for 28 Liberty
Fosun International is close to locking in a $900 million refinancing for 28 Liberty, a Financial District tower once hobbled by high vacancy after losing Milbank to Hudson Yards. The three-year loan, disclosed by credit rating firm KBRA, suggests lenders still see more near-term risk downtown than in Midtown, where refinancings are typically landing five- to ten-year terms. Fosun, which bought the former Chase Manhattan Plaza for $725 million in 2013, will contribute $78 million in fresh equity to close the transaction, Crain’s reported. The 2 million-square-foot property was recently appraised at $1.35 billion. Fosun did not respond to the […]
This article originally appeared on The Real Deal. Click here to read the full story.
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