Ivanhoe Cambridge lands $360M Natixis loan for 85 Broad buy

CMBS loan carries 10-year term
May 30, 2017 08:15AM

 

85 Broad and Ivanhoe’s Daniel Fournier

Natixis is funding Ivanhoe Cambridge’s acquisition of 85 Broad Street with a $360 million CMBS loan.

Ivanhoe TRData LogoTINY, a subsidiary of Quebec’s public pension fund manager, in April agreed to buy the 1.1-million-square-foot office building for $658 million. The 10-year loan has a loan-to-value ratio of 55 percent, Commercial Mortgage Alert reported.

Goldman Sachs built the tower as its headquarters in the 1983, but left for 200 West Street in 2010. Its most recent owners were Beacon Capital Partners and MetLife Real Estate Investors.

Major tenants include Vox Media, WeWork and Oppenheimer & Co. The building is currently under renovation and will receive a conference center.

Natixis, a French investment bank, is an active commercial real estate lender in New York. Last month it refinanced the nearby office tower 75 Broad Street with a $250 million loan. [CMA] — Konrad Putzier

(To view more of Ivanhoe Cambridge’s commercial sales transactions, click here)