237 Park Avenue

Walton Street abandons plan爱上海

to sell 237 Park, refis instead Firm owns office tower in partnership with RXR Realty

From left: Jeffrey Quicksilver, 237 Park and Scott Rechler

Walton Street Capital abandoned plans to sell its 49 percent stake in 237 Park Avenue , according to sources familiar with the transaction. Instead, Walton and its partner RXR Realty refinanced the trophy office tower with a $850 million mortgage.

The new阿爱上海同城

lenders are Morgan Stanley and Societe Generale, sources said. The loan replaces a $419.6 million CMBS mortgage overseen by U.S. Bank as trustee, property records indicate.

Cushman Wakefield brokered the debt deal, sources say. The brokerage declined to comment, as did RXR and Walton. The lenders could not be reached for comment Sunday.

RXR, led by Scott Rechler, and Walton, led by Jeffrey Quicksilver, bought the 21-story, 1.25 million-square-foot tower for $810 million in 2013 from a Lehman Brothers-controlled entity.

In March, Walton put its stake up for sale, with Rechler seeki爱上海龙凤419桑拿

ng a new equity partner and recapitalization of the building to roughly $1.4 billion, the New York Post reported.

Last year, the New York Presbyterian Hospital signed a 500,000-square-foot上海龙凤论坛

lease at the building, which was 98 percent leased as of March.

Tags: Morg爱上海同城

an Stanley, RXR Realty
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

Leave a comment

Your email address will not be published. Required fields are marked *