Brookfield refis 200 Vesey with $290M loan

Wells Fargo provided the financing for 52-story building in Brookfield Place complex

New York /
Dec.December 29, 2016 11:25 AM

Brookfield Property Partners just landed a $290 million from Wells Fargo to refinance its office tower at 200 Vesey Street.

Financing for the office building — known as 3 Brookfield Place — consolidates $230 million in previous loans with $65 million in new ones, according to documents filed with the city on Thursday. The new loans include a $50 million gap mortgage and another $15 million loan.

American Express owns the top half of the 52-story building, which it also occupies as its world headquarters. The tower, which was known as 3 World Financial Center until 2014, spans 1.3 million square feet. Roughly 6,000 square feet is dedicated to retail on the tower’s lower floors.

In January, Brookfield scored a $900 million loan from Citibank, Deutsche Bank and Wells Fargo to refinance another Brookfield Place building, 225 Liberty Street. The loan was the sixth largest real estate loan issued in 2016, according to an analysis by The Real Deal.

A representative for Brookfield was not immediately available for comment.

Toronto-based Brookfield is looking to sell a 49 stake in the complex, which would value it at $5 billion.  The company is also considering selling its massive Putnam multifamily portfolio in Upper Manhattan and put 245 Park Avenue — a 1.8 million square foot office tower — on the market in November. Brookfield is keeping busy though, as it’s also developing the massive $8.6 billion Manhattan West mixed-use development in Hudson Yards.


Related Articles

arrow_forward_ios
The Grace Building at 1114 Sixth Avenue (Photo via Wikipedia Commons)

Here’s what tenants are paying at Brookfield & Swig’s Grace Building

Here’s what tenants are paying at Brookfield & Swig’s Grace Building
Brookfield Property Partners chairman Ric Clark and former Tishman Speyer executive Philip “Tod” Waterman (Getty; LinkedIn)

Ric Clark and Tod Waterman launch investment firm

Ric Clark and Tod Waterman launch investment firm
One Manhattan West and Brookfield CEO Brian Kingston (Brookfield)

Brookfield Property Partners reports $135M net loss in Q3

Brookfield Property Partners reports $135M net loss in Q3
Noom CEO Saeju Jeong and 5 Manhattan West (Twitter; Wikipedia Commons)

Noom inks 113K-sf sublease at 5 Manhattan West

Noom inks 113K-sf sublease at 5 Manhattan West
J.C. Penney CEO Jill Soltau and Aurelius Capital Management CEO Dirk Markus (Getty; Wikipedia Commons)

J.C. Penney creditors want slow down “bad faith” sale

J.C. Penney creditors want slow down “bad faith” sale
(Illustration by Maciej Frolow)

Does Brookfield’s balance sheet fully reveal the health of its real estate?

Does Brookfield’s balance sheet fully reveal the health of its real estate?
New York’s malls see slow recovery after reopening

New York’s malls see slow recovery after reopening

New York’s malls see slow recovery after reopening
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)

Real estate lending bounces back in September in a big way

Real estate lending bounces back in September in a big way
arrow_forward_ios

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

Loading...