The Real Deal New York

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

May 03, 2011 06:58PM

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.

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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