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New York

Holliday Fenoglio Fowler close $98.25 million loan sale secured by 1140 Sixth Avenue

Commercial real estate brokerage Holliday Fenoglio Fowler has closed a $98.25 million loan sale secured by the leasehold interest of 1140 Sixth Avenue to affiliates of investment firm the Blackstone Group, they announced today.

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Earlier this year, Blackstone beat out 30 other bidders to grab the building, at that point owned by Stellar Management and Rockpoint Group, at auction. The approximately 191,000-square-foot building has a value of around $523 per square foot, The Real Deal reported in March.

HFF marketed the senior loan of behalf of a banking group spearheaded by German Landesbank Baden-Wurttemberg, parent company of three commercial banks. The commercial building, 1140 Sixth Avenue, built in 1926, was recently renovated and has 22 stories of offices. TRD

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Holliday Fenoglio FowlerStellar Management