David Werner closes One Dag purchase with $250M JPMorgan loan
David Werner tapped JPMorgan to finance his deal for One Dag Hammarskjöld Plaza. The bank provided David Werner Real Estate Investments with a $250 million loan to close his purchase of the 50-story office tower, The Real Deal has learned. Werner, one of the biggest buyers of discounted office buildings in recent years, bought the 870,000-square-foot office tower for $270 million from Rockpoint Group — about half the price the seller paid for the building in 2019. Werner plans to invest another $60 million into upgrading and leasing the tower (which is nearly 30 percent vacant), bringing the total capitalization […]
This article originally appeared on The Real Deal. Click here to read the full story.
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