The Real Deal New York

SL Green locks in $250M refi for the Olivia

REIT bought the 36-story rental tower on West 33rd St. in 201
By Konrad Putzier | January 25, 2017 05:40PM

The Olivia at 315 West 33rd Street

UPDATED, Jan. 26, 11:56 p.m.: SL Green Realty refinanced its Midtown rental building the Olivia at 315 West 33rd Street with a $250 million loan from British insurer Rothesay Life. Principal Financial Group helped arrange the loan and will service it.

The new mortgage carries a 10-year term and has a fixed interest rate of 4.236 percent.

SL Green TRData LogoTINY bought the 36-story, roughly 493,000-square-foot tower from Stonehenge Partners for $386 million in 2013. JLL’s Aaron Appel, Jonathan Schwartz, Michael Diaz and Mark Fisher brokered the loan.

The REIT also announced a couple of leases that hadn’t been previously reported. At 1745 Broadway, it signed hedge fund PDT Partners to a two-year lease for 53,490 square feet. PDT had previously sub-leased space in the building from Random House.

The landlord renewed Equinox’s 40,334-square-foot lease at 420 Lexington Avenue, bringing it to a remaining term of 20 years. And at 1350 Sixth Avenue, Highbridge Capital Management inked a short-term renewal on its 31,556-square foot-lease. The investment firm will stay for two-and-a-half years.

Correction: an earlier version of this post incorrectly claimed that Principal is the lender.