This $845mm loan refied last week - BACM 2004-4 ($150mm senior, $103mm rake legs), BACM 2004-5 ($137mm), MLMT 2004-BPC1 ($130mm), and $230mm in Mezz.
The new debt ($600mm) was provided by Pac Life and Met Life, carries a 5.1% coupon, 10 year balloon, amortizing structure.
This 1.8mm square foot office is 93% leased at an average rate of $56.35/sf with the major tenants being BofA (659k sf), Kirkland & Ellis (125k sf), and UBS (107k sf).
Vornado purchased a 70% stake of this property and 1290 Avenue of the Americas in 2007.
Specialty Retailer Claire's Files for Chapter 11
15 hours ago