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