Aurora Capital, partners get $120M refi at 600 Broadway

Iron Hound, BNY Mellon provide financing for Soho retail building

600 Broadway Soho
600 Broadway in Soho and Robert Verrone

Bobby Cayre’s Aurora Capital Associates, Alex Adjmi’s A&H Acquisitions and the Chera family’s Crown Acquisitions are refinancing a six-story Soho retail building with a $120 million loan facility from Robert Verrone’s Iron Hound Management and the Bank of New York Mellon.

The 10-year line of credit will replace an existing $72.6 million mortgage on the building, located at 600 Broadway Near Houston Street, provided in 2008 by the now-defunct Anglo Irish Bank and most recently acquired by SunTrust Bank last year.

The loan facility closed on Dec. 18, according to the New York Observer, with the borrowers – frequent collaborators with extensive retail holdings across the city – expected to cash out a portion of the financing and set the remainder aside for capital reserves.

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The 65,000-square-foot building houses the flagship store of clothing brand Hollister Co., a subsidiary of Abercrombie & Fitch. Hollister occupies 37,600 square feet at 600 Broadway, while gym chain 24 Hour Fitness has 19,300 square feet on the upper floors.

Aurora, A&H and Crown acquired the property from Olmstead Properties for $71.4 million in 2008, according to city records. [NYO]Rey Mashayekhi