The Real Deal New York

Brookfield Properties Corp. has refinanced the 1.7-million-square-foot office building at One Liberty Plaza with an $850 million loan from Goldman Sachs. The refinancing comes at a fixed rate of 6.1 percent, and will repay the previous $397 million loan for the property, which had a 6.8 percent interest rate. Brookfield plans to use the remainder of the financing for general corporate expenses. “Notwithstanding the current nervous credit environment, this financing shows the market’s appreciation for high-quality premier assets,” said Ric Clark, president and CEO of Brookfield. more [GlobeSt]