Related locking in $1.1B refi for Deutsche Bank Center
The owners of Deutsche Bank Center are about to secure one of Manhattan’s largest office refinancings of the year. A joint venture that includes Related Companies along with sovereign wealth funds from Singapore and Abu Dhabi is expected to close a $1.1 billion CMBS deal by the end of October, according to Fitch Ratings. The floating-rate, interest-only loan refinances existing debt on the 1.1 million-square-foot office tower at 60 Columbus Circle and covers roughly two-thirds of its $1.65 billion appraised value, Bisnow reported. It will carry a two-year term with three one-year extension options and will be co-originated by German […]
This article originally appeared on The Real Deal. Click here to read the full story.
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