Real estate investment trust SL Green and Prudential Real Estate Investors completed a $360 million refinancing of an office tower at 100 Park Avenue, according to public records filed with the city today.
The loan was provided by a syndicate led by German commercial bank Landesbank Hessen-Thuringen Girozentrale, also known as Helaba. The refinancing was done in February, records show.
The 36-story, 826,000-square-foot office tower was last refinanced in 2009 in a $215 million deal led by Helaba and fellow German lender DekaBank. Other lenders in the 2009 deal included PB Capital, Westdeutsche ImmobilienBank AG and Modern Bank.
The new syndicate included some of the same parties involved in the 2009 refinancing but not all of them, sources said.
The property is currently 99 percent leased, according to data from CoStar. Tenants include financial asset manager Columbia Management, which leases 84,975 square feet, and Wells Fargo Capital Finance, which leases 103,093.
CoStar pegs rents at the property at $60 to $80 per square foot.
Before the economic meltdown in 2009, the building was one of the first south of 42nd Street to achieve rents of more than $100 per square foot, The Real Deal previously reported.
A spokesperson for SL Green declined to comment.
Major commercial refinancing deals are expected to continue rolling in this year, thanks to a slew of loans made in 2007 that are now begininng to mature. An estimated $1.4 trillion in commercial mortgages will mature between 2014 and 2017, analytics firm Trepp estimates.