Tishman Speyer locks in $1B in financing for Jackson Park

Funding comes from Bank of America and Wells Fargo

New York /
Sep.September 27, 2019 05:49 PM
Jackson Park at 28-40 Jackson Avenue and Tishman Speyer's Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Jackson Park at 28-40 Jackson Avenue and Tishman Speyer’s Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Tishman Speyer has landed $1 billion in permanent financing for its massive Long Island City project known as Jackson Park, the company announced Friday.

The developer secured the mortgage from Bank of America and Wells Fargo. It is a 10-year, interest-only loan to replace a $640 million construction loan secured in 2015 from the same companies.

Tishman Speyer started construction on Jackson Park in 2015. The project opened in phases last year and this year. It features 1,871 apartments across three buildings, a 1.5-acre private park and a 50,000-square-foot clubhouse.

A JLL team of Michael Tepedino, Michael Gigliotti and Geoff Goldstein represented Tishman Speyer in the deal.

Jackson Park is located directly across from JACX, a 1.1 million-square-foot office and retail complex also from Tishman Speyer. Tenants include Macy’s, WeWork and New York-Presbyterian.


Related Articles

arrow_forward_ios
From left: President Donald Trump, Blackstone's Jonathan Gray and Tishman Speyer's Rob Speyer (Getty)

Real estate execs, business leaders urge Trump to begin transition

Real estate execs, business leaders urge Trump to begin transition
The Grace Building at 1114 Sixth Avenue (Photo via Wikipedia Commons)

Here’s what tenants are paying at Brookfield & Swig’s Grace Building

Here’s what tenants are paying at Brookfield & Swig’s Grace Building
The skating rink at Rockefeller Center (Getty)

Tishman Speyer cuts short Rock Center rink season — and not due to Covid

Tishman Speyer cuts short Rock Center rink season — and not due to Covid
Maria Rioumine and Ryan Gibson (Agora, iStock)

Tishman Speyer, Suffolk back supply-chain startup

Tishman Speyer, Suffolk back supply-chain startup
JLL CEO Christian Ulbrich (Getty)

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
JLL CEO Christian Ulbrich and CBRE CEO Bob Sulentic (Getty; CBRE; Pixabay)

JLL, CBRE keep cutting as recovery drags

JLL, CBRE keep cutting as recovery drags
The Factory building at 30-30 47th Avenue with Square Mile Capital’s Craig Solomon and Invesco CEO Marty Flanagan (Photos via The Factory; Square Mile; Invesco)

Here’s what tenants are paying at the Factory in Long Island City

Here’s what tenants are paying at the Factory in Long Island City
Tishman Speyer CEO Rob Speyer, COO Paul Galiano, CIO Jenny Wong (Photos via Getty; iStock; Tishman Speyer)

Tishman Speyer jumps on the SPAC bandwagon

Tishman Speyer jumps on the SPAC bandwagon
arrow_forward_ios

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

Loading...