Reported 1 day ago
The Tishman Speyer and Henry Crown partnership is set to refinance the Spiral office tower in Hudson Yards by issuing $2.65 billion in bonds backed by the mortgage on the property and an additional $200 million in future debt. This move follows a recent record commercial mortgage-backed securities deal, as the funds will be used for refinancing existing obligations, including construction loans and EB-5 investor debts, while also providing reserves for tenants and returning equity to sponsors.
Source: YAHOO