SL Green nears $1.7B refi at fully leased One Madison
For the second time this month, Marc Holliday has reason to celebrate at One Madison. SL Green is close to landing a $1.7 billion loan to refinance the Midtown South office building, Bisnow reported. The commercial mortgage-backed securities debt will refinance the $1.2 billion left on the property’s construction loan, according to a Fitch Ratings report. As part of the transaction, the ownership group will fund $136 million in reserves, which will go towards recent concessions and tenant improvements. The owners can also cash out $308 million in equity. Wells Fargo, Goldman Sachs, JPMorgan Chase, Bank of America and Deutsche […]
This article originally appeared on The Real Deal. Click here to read the full story.
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