Yeshiva lands $140M loan from Argentic, Citi for five Manhattan properties
Mortgage refinances buildings in Washington Heights, Murray Hill
Yeshiva University refinanced five Manhattan properties with a $140 million mortgage from debt fund manager Silverpeak Argentic and Citigroup’s Citi Real Estate Funding, property records filed with the city Wednesday show.
The new loan on 2495 and 2520 Amsterdam Avenue in Washington Heights and 215, 245 and 253 Lexington Avenue in Murray Hill replaces $175 million in taxable bonds serviced by UMB Bank that had $125 million in unpaid principal outstanding.
Yeshiva took out the bonds in August 2014. At the time, the private orthodox Jewish school was reeling from a $105 million loss to Bernie Madoff’s Ponzi scheme and sold several buildings to raise cash.
The properties are home to Yeshiva College and Stern College for Women. Representatives for Yeshiva did not immediately respond to a request for comment, and Argentic and Citi declined to comment.