Kent Swig, the embattled president of Swig Equities, announced today the refinancing of 110 William Street, a 900,000-square-foot office property located between John and Fulton streets in the Financial District. The total amount of the loan is $161.5 million, which was led by a $141.5 million first mortgage provided by UBS Real Estate Securities and Barclays Capital. In addition, Pearlmark Real Estate Partners provided a $20 million mezzanine loan, according to a release from Swig.
Swig Equities and Silverpark Real Estate Partners worked together to close the deal.
Swig Equities and Longwing, the borrowers, have owned the building since 2004 and recently renovated its lobby, its security and fire-safety systems, and its curtain wall façade.
Swig’s downtown office portfolio also includes 48 Wall Street, which got hit with a lawsuit in March of this year. The news of the 48 Wall Street suit came one day after Swig’s former father-in-law, Harry Macklowe, filed a suit seeking repayment for $200,000 that Macklowe claimed to have loaned Swig in 2009. — Zachary Kussin