The Real Deal New York

SL Green repays $125M loan on 600 Lex with Wells Fargo

REIT bought out partner CPP in December
By Rich Bockmann | September 23, 2016 05:30PM

Marc Holliday and 600 Lexington Avenue in Midtown

Marc Holliday and 600 Lexington Avenue in Midtown

SL Green Realty repaid a $125 million loan from the Bank of China on 600 Lexington Avenue with Wells Fargo.

SL Green used corporate financing, which Wells was part of, to repay the $125 million loan Bank of China made against the 303,000-square-foot property in 2010, property records filed with the city Friday show.

In 2010, SL Green and Canada Pension Plan paid Hines $193 million for the 36-story building at the corner of East 52nd Street.

This past December, SL Green bought out CPP’s 45 percent stake in a deal that valued the property at $284 million.

The building is anchored by the hedge fund MKP Capital Management, which has just shy of 26,000 square feet spread across two mid-rise floors, according to CoStar.

Correction: SL Green Realty did not refinance 600 Lexington Avenue. It used corporate financing to pay off a previous loan along with Wells Fargo.