Savanna gets $47M loan on 5 Hanover Sq.

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Christopher Schlank, founder and managing partner of Savanna, and 5 Hanover Square

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Private equity real estate firm Savanna has received a $47 million mortgage to recapitalize 5 Hanover Square, a 25-story office building in Lower Manhattan, which it purchased in an all-cash deal in September 2010. Mesa West Capital provided the financing on the 333,000-square-foot tower. Savanna plans to use the funds toward “costs associated with lease up” and a renovation on parts of the building, according to Mesa West. So far this year Mesa West, a private lender based in Los Angeles, has loaned more than $500 million in commercial real estate debt financings, a company spokesperson said. TRD