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
 SL Green’s Marc Holliday with 450 Park Avenue  (Taconic Partners, SL Green)
TRD Pro: Here are NYC’s biggest offices sales of Q2
TRD Pro: Here are NYC’s biggest offices sales of Q2
Paycheck potential: A look at real estate’s top earners
Paycheck potential: A look at real estate’s top earners
Paycheck potential: A look at real estate’s top earners
SL Green's Marc Holliday and 450 Park Avenue (Getty, Reading Tom, CC BY 2.0 via Wikimedia Commons)
SL Green reports $44M quarterly loss as it pivots to paying down debt
SL Green reports $44M quarterly loss as it pivots to paying down debt
Ben Ashkenazy goes on the offensive
Ben Ashkenazy goes on the offensive
Ben Ashkenazy goes on the offensive
SL Green’s Harrison Sitomer with 245 Park Avenue
SL Green gets restraining order against HNA at 245 Park Ave
SL Green gets restraining order against HNA at 245 Park Ave
arrow_forward_ios

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

Loading...