Northwood Investors refinanced its Financial District office tower 100 Broadway with a $150 million loan from the Metropolitan Life Insurance Company.
The new mortgage replaces a $130 million loan from Canadian Imperial Bank of Commerce, Real Estate Weekly reported.
Northwood, founded by Blackstone veteran John Kukral, bought the 380,000-square-foot, 24-story tower for $150 million in 2013 from Madison Capital and Meadow Partners. Tenants include IA Interior Architects, Tommy John and MM.LaFleur.
Northwood sold the Palace Hotel in 2015 to South Korean firm Lotte Group for $805 million. It purchased the hotel for $400 million in 2011 and spent about $160 million renovating the property. [REW] — Konrad Putzier