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New York

Pacific Eagle Holdings lands $119M refinancing for 400 Fifth

Mizuho debt replaces previous loan from United Overseas Bank

400 Fifth Avenue and Dr. Lo Ka Shui (Credit: Pacific Eagle Holdings)
400 Fifth Avenue and Dr. Lo Ka Shui (Credit: Pacific Eagle Holdings)

The San Francisco-by-way-of-Hong Kong real estate firm Pacific Eagle Holdings refinanced its debt on the hotel tower at 400 Fifth Avenue with a $119 million loan from Mizuho bank.

The loan replaced an existing mortgage of $125 million issued by Singapore-based United Overseas Bank, according to records filed with the city. The new loan covers the hotel portion of the building and four other commercial condominiums.

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Pacific Eagle acquired the 60-floor building, which goes by the name of Langham, New York, Fifth Avenue, in 2012, paying $229 million. There are 214 hotel room and the building is topped by 190 condominium units that were developed by Bizzi Partners.

The company previously owned 146 West 57th Street. In Southern California, it owns the Villa Malibu rental community.

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Commercial Real EstateHotel Market