Kamber receives $150M loan for Tower 45 purchase

Midtown-based firm bought 40-story office building from SL Green for $365M

New York /
Sep.September 29, 2015 01:40 PM

Kamber Management Company received a $150 million loan to fund the acquisition of Tower 45 in Midtown.

Insurance giant MetLife provided a 10-year loan, which covers just over 40 percent of the purchase price. The MetLife loan checks in at an interest rate of 3.64 percent. Estreich & Company brokered the loan deal.

Kamber, until recently an under-the-radar firm, closed on the 40-story building from SL Green last week, according to the New York Observer. The Midtown-based company paid the real estate investment trust $365 million for the property, as The Real Deal reported in July, and plans to keep it as a Class A office building.

The 458,446-square-foot tower at 120 West 45th Street houses at Aquila Management, D.E. Shaw Research and others. It was recently renovated.

Kamber, which also owns 15 West 37th Street, has had a fairly busy month, closing on the sale of 19-28 West 33rd Street to the Carlyle Group for $111 million. SL Green is using the sale of Tower 45 to help fund its landmark $2.6 billion purchase of 11 Madison Avenue[NYO]James Kleimann


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
From left: 11 Madison Avenue, Beam Suntory CEO Albert Baladi and SL Green CEO Marc Holliday (Photos via Beam Suntory; SL Green)
Beam Suntory will move HQ to 11 Madison Ave from Chicago
Beam Suntory will move HQ to 11 Madison Ave from Chicago
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
11 Penn Plaza (Vornado Realty Trust)
Manhattan office availability continues to reach new highs
Manhattan office availability continues to reach new highs
SL Green expands share buybacks by $500M
SL Green expands share buybacks by $500M
SL Green expands share buybacks by $500M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...