The Real Deal New York

Deutsche Bank is a German banking giant that placed 4th on The Real Deal's ranking of top New York City lenders in 2015. The bank has a storied history in New York. Prior to 2008, it was one of the most active lenders here, but it got burned during the crash. In early 2007, it lent developer Harry Macklowe $5.8 billion with a one-year term for his $7 billion acquisition of Equity Office Properties’ Manhattan office portfolio. A $1.2 billion loan from Fortress Capital brought the loan-to-value ratio to a staggering 99 percent, a deal that would become a symbol of the era’s excesses. A year later, Macklowe defaulted and Deutsche Bank took over the properties and gradually began selling them off. Despite getting battered during the crisis, Deutsche hasn’t lost its appetite for big deals. In early 2015, it originated a $1.1 billion CMBS loan to finance Ivanhoe Cambridge’s acquisition of 3 Bryant Park. And last month it issued a $321 million loan for Beacon Capital Partners’ office condo acquisition at 575 Lexington Avenue. Apart from giant acquisition loans, Deutsche Bank has also funded a couple of boutique condo developments in recent months, dishing out $104 million for the Naftali Group’s 219-223 West 77th Street and $40 million for the development firm Sumaida and Khurana at 152 Elizabeth Street.