JPMorgan and AXA secure $372M refinancing of 1285 Sixth Avenue

New York /
Jul.July 06, 2011 09:37 AM

Joint owners JPMorgan Asset Management and AXA Equitable Life Insurance have secured $372 million in refinancing for 1285 Sixth Avenue at Rockefeller Center, HFF, which arranged the refinancing, announced yesterday. The 10-year fixed-rate loan on the 1.65 million-square-foot, 42-story Midtown tower is with MetLife Real Estate Investments, HFF said.

Whitney Wilcox and Mike Tepedino, senior managing directors at HFF, represented the borrower.

Developed in 1960 as the Equitable Life Assurance Society of the United States headquarters, the building is currently 99.9 percent leased, HFF said. Anchor tenants include UBS, law firm Paul Weiss, Rifkind, Wharton & Garrison and advertising agency BBDO.

As The Real Deal reported earlier this year, BBDO was rumored to be looking at TIAA-CREF’s 685 Third Avenue before finally renewing its lease on Sixth Avenue. UBS is also in talks to move its Stamford, Conn.-based U.S. investment bank to Larry Silverstein’s planned 3 World Trade Center tower by 2015. — Katherine Clarke


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