Blackstone lands $80M in loans for 44 Wall
Deutsche Bank package includes a refi mortgage and construction loan
Blackstone Group secured $80 million in new debt from Deutsche Bank for 44 Wall Street, the 23-story office building it recently purchased from Norwegian investment firm Obligo.
The financing package includes a $12.5 million construction loan and a $67.6 million mortgage to refinance existing debt, the Commercial Observer reported, citing property records filed Wednesday.
Blackstone’s purchase of the 289,000-square-foot property in the Financial District was part of a $2.7 billion portfolio sale by Obligo of its real estate assets in Scandinavia, Latvia, Germany and the U.S.
The $116.3 million purchase was long delayed due to a lawsuit between the Obligo and the property’s minority stakeholders Kent Swig [TRDataCustom] and Asher Zamir. Swig settled the lawsuit in May, paving the way for the closing in June.
Asking rents at 44 Wall average $46 per square foot, and tenants include brokerage Charles Schwab and title insurance company TitleVest, according to the website. [CO] — Chava Gourarie