New York

H&R REIT scores $250M refi for 2 Gotham Center

Three life insurers provided financing for the LIC office building

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/2-Gotham-Center-Queens-NY-11101/4004207501-0" target="_blank" data-address="2%20Gotham%20Center%2C%20Queens" data-label="2%20Gotham%20Center" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F2-Gotham-Center-Queens-NY-11101%2F4004207501-0" data-bbl="4004207501" data-blockValue="00420" data-lotValue="7501" data-zipcode="11101" data-bldgArea="543%2C946" data-bldgDepth="226" data-bldgFront="139" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="44%2C826" data-lotFront="139.08" data-lotDepth="342.55" data-retailArea="0" data-resArea="0" data-officeArea="505%2C416" data-garageArea="38%2C530" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="R0" data-primaryZoning="M1-6%2FR10" data-commercialOverlay="" data-far="12" data-buildable="537%2C912" data-airRights="-5%2C827" data-propertyNeighborhood="Hunters%20Point" data-latitude="40.7492715549639" data-longitude="-73.9388743243689" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F2-Gotham-Center-Queens-NY-11101%5C%2F4004207501-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F2-Gotham-Center-Queens-NY-11101%5C%2F4004207501-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">2 Gotham Center</a>

2 Gotham Center

H&R Real Estate Investment Trust pulled off $250 million to refinance its 22-story office building 2 Gotham Center in Long Island City.

The financing comes from Northwestern Mutual Life Insurance Company, Great-West Life Assurance Company and Canada Life Financial Corporation, the Commercial Observer reported. The debt replaces a $250 million mortgage from the same three companies, according to the publication.Canada-based H&R used that funding to help buy the building from Tishman Speyer for $416.2 million in 2011.

The building — which is fully leased to the New York City Department of Health Mental Hygiene — spans just under 670,000 square feet and is located at 42-01 28th Street.

H&R is working with Tishman Speyer to build a three-building,1,789-unit Luxury Rental Complex Across The Street from 2 Gotham Center at 28-34 Jackson Avenue, 28-10 Jackson Avenue and 30-02 Queens Boulevard. The companies picked up a $640 million construction loan for the development from Bank of America Merrill Lynch and Wells Fargo in 2015. [CO] — Miriam Hall

New York

H&R REIT scores $250M refi for 2 Gotham Center

Three life insurers provided financing for the LIC office building

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/2-Gotham-Center-Queens-NY-11101/4004207501-0" target="_blank" data-address="2%20Gotham%20Center%2C%20Queens" data-label="2%20Gotham%20Center" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F2-Gotham-Center-Queens-NY-11101%2F4004207501-0" data-bbl="4004207501" data-blockValue="00420" data-lotValue="7501" data-zipcode="11101" data-bldgArea="543%2C946" data-bldgDepth="226" data-bldgFront="139" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="44%2C826" data-lotFront="139.08" data-lotDepth="342.55" data-retailArea="0" data-resArea="0" data-officeArea="505%2C416" data-garageArea="38%2C530" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="R0" data-primaryZoning="M1-6%2FR10" data-commercialOverlay="" data-far="12" data-buildable="537%2C912" data-airRights="-5%2C827" data-propertyNeighborhood="Hunters%20Point" data-latitude="40.7492715549639" data-longitude="-73.9388743243689" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F2-Gotham-Center-Queens-NY-11101%5C%2F4004207501-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F2-Gotham-Center-Queens-NY-11101%5C%2F4004207501-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">2 Gotham Center</a>

2 Gotham Center

H&R Real Estate Investment Trust pulled off $250 million to refinance its 22-story office building 2 Gotham Center in Long Island City.

The financing comes from Northwestern Mutual Life Insurance Company, Great-West Life Assurance Company and Canada Life Financial Corporation, the Commercial Observer reported. The debt replaces a $250 million mortgage from the same three companies, according to the publication.Canada-based H&R used that funding to help buy the building from Tishman Speyer for $416.2 million in 2011.

The building — which is fully leased to the New York City Department of Health Mental Hygiene — spans just under 670,000 square feet and is located at 42-01 28th Street.

H&R is working with Tishman Speyer to build a three-building,1,789-unit Luxury Rental Complex Across The Street from 2 Gotham Center at 28-34 Jackson Avenue, 28-10 Jackson Avenue and 30-02 Queens Boulevard. The companies picked up a $640 million construction loan for the development from Bank of America Merrill Lynch and Wells Fargo in 2015. [CO] — Miriam Hall