UPDATED, 5:40 p.m., Oct. 15: Real estate investment firm Beacon Capital Partners secured a $321 million loan financing its acquisition of a 50 percent stake in an office condo at MetLife’s 575 Fifth Avenue in Midtown.
Deutsche Bank provided the mortgage, which consists of a $271.1 million acquisition loan, a $37.3 million building loan and a $12.6 million project loan, according to property records filed with the city Thursday.
Boston-based Beacon acquired its stake in the unit in August, according to city property records, though no purchase price on the transaction was provided. MetLife bought the 35-story office tower for $385 million in 2005 from a partnership that included Mets owner Fred Wilpon’s Sterling Equities.
A MetLife spokesperson confirmed Beacon’s acquisition of a 50 percent stake in the commercial condo. Beacon could not be reached for comment.