Brookfield secures $550M loan for 200 Liberty Street

$240M of the financing for 39-story office tower is new

New York /
Feb.February 06, 2017 06:20 PM

Brookfield Property Partners just landed a $550 million loan for its office tower at 200 Liberty Street, according to property records filed with the city Monday.

Kiwoom Milestone US, an affiliate of investment adviser Civitas Alternative Investments, provided the financing, which consolidates a new mortgage of $240 million and a 2007 loan from German American Capital Corporation, documents show.

A representative for Brookfield was not immediately available to discuss the new financing.

The 39-story office tower spans 1.7 million square feet. It was built in 1986 and was formerly known as One World Financial Center, before 2014, when the rest of the office and shopping complex changed its name to Brookfield Place.

In 2015, the Associated Press inked a lease for 170,000 square feet in the building, ditching its old headquarters at 450 West 33rd Street, now known as 5 Manhattan West. Brookfield owns that property as well and is extensively renovating it. The company is also developing the $8.6 billion mixed-use complex Manhattan West in with the Qatar Investment Authority.

Last week, Brookfield Property Partners, a spinoff of Brookfield Asset Management, announced that it was delaying its decision to place its U.S. assets into a real estate investment trust. CEO Brian Kingston said the company planned to wait until it became clear that President Donald Trump would deliver on his plan to change the tax code.


Related Articles

arrow_forward_ios
From left: Alvin Dworman, 155 East 55th Street, 65 West 55th Street, and 210 East 58th Street (Getty, Google Maps)
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Anita Durst and images of Chashama (Photos via Getty, Chashama)
Durst-backed nonprofit puts startups into empty storefronts
Durst-backed nonprofit puts startups into empty storefronts
Berkshire Bank headquarters in 4 East 39th Street (Google Maps)
Major FiDi landlord resigns as bank chairman after stock windfall
Major FiDi landlord resigns as bank chairman after stock windfall
Nationally, just under one-third of office workers have returned to the office spaces they occupied before the pandemic. (iStock)
Employers face uphill battle luring staff back to the office
Employers face uphill battle luring staff back to the office
The Closing: Janice Mac Avoy
The Closing: Janice Mac Avoy
The Closing: Janice Mac Avoy
Washington Prime Group CEO Lou Conforti (Twitter)
Washington Prime Group files for Chapter 11 bankruptcy
Washington Prime Group files for Chapter 11 bankruptcy
Renderings of Greenpoint Landing in Greenpoint, 141 Willoughby Street in Downtown Brooklyn and 45-57 Davis Street in Long Island City (Photos via OMA, SLCE Architects and J Frankl Architects)
These were the top outer-borough loans in May
These were the top outer-borough loans in May
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
arrow_forward_ios

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

Loading...