Cain, Alchemy-ABR score $321M refi for Billionaires’ Row office tower
Cain and Alchemy-ABR Investment Partners landed a $321 million refinancing for their newly completed Billionaires’ Row office tower. JPMorgan Chase provided the senior loan for 125 West 57th Street, while Hudson Bay Capital provided the mezzanine loan. The fresh financing for the 30-story tower replaced a $250 million construction loan from Security Benefit Life Insurance Company, a Cain affiliate. A Walker & Dunlop team including Adam Schwartz, Aaron Appel, Jonathan Schwartz arranged the deal. The deal values the 260,000-square-foot property at more than $600 million once certain leasing milestones are reached, Bloomberg reported, citing a person familiar. Recent leases at […]
This article originally appeared on The Real Deal. Click here to read the full story.
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