Brookfield lands $1.15B refi for 5 Manhattan West

German bank LBBW is the lender

TRD New York /
Apr.April 13, 2018 06:50 PM
 

Manhattan West

Brookfield Property Partners refinanced its office building 5 Manhattan West with a $1.15 billion loan from Landesbank Baden-Wurttemberg.

The new mortgage from the German state bank replaces a $570 million loan from Wells Fargo, according to property records cited by the Commercial Observer.

Brookfield recently completed a $350 million redevelopment of the 2.2 million-square-foot building, which sits at 10th Avenue between 31st and 33rd streets on the western edge of the Manhattan West megadevelopment.

The biggest tenants are JPMorgan Chase, which occupies 425,000 square feet, and Amazon, which recently inked a 360,000-square-foot lease. [CO] — Konrad Putzier


Related Articles

arrow_forward_ios
J.C. Penney CEO Jill Soltau and Aurelius Capital Management CEO Dirk Markus (Getty; Wikipedia Commons)

J.C. Penney creditors want slow down “bad faith” sale

J.C. Penney creditors want slow down “bad faith” sale
(Illustration by Maciej Frolow)

Does Brookfield’s balance sheet fully reveal the health of its real estate?

Does Brookfield’s balance sheet fully reveal the health of its real estate?
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)

Real estate lending bounces back in September in a big way

Real estate lending bounces back in September in a big way
Brookfield’s Ric Clark and Simon Property Group’s David Simon (Getty)

J.C. Penney saved by Simon and Brookfield

J.C. Penney saved by Simon and Brookfield
Manhattan office real estate market is getting hit by subleasing (iStock)

Spike in Manhattan’s office sublease explained

Spike in Manhattan’s office sublease explained
A photo illustration of Brookfield's Brian Kingston (Brookfield, iStock)

After $1.5B loss, Brookfield Property Partners buys back $426M of stock

After $1.5B loss, Brookfield Property Partners buys back $426M of stock
QIA CEO Mansoor Bin Ebrahim Al-Mahmoud, One Manhattan West and Brookfield CEO Brian Kingston (Getty; Brookfield)

Here’s how much tenants are paying at One Manhattan West

Here’s how much tenants are paying at One Manhattan West
Brookfield’s Ric Clark and Simon Property Group’s David Simon (Getty)

Simon, Brookfield in talks to buy bankrupt J.C. Penney

Simon, Brookfield in talks to buy bankrupt J.C. Penney
arrow_forward_ios

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

Loading...