Swig Equities announces $161.5M refinancing of 110 William Street

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.

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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