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L Green has made several moves at its Midtown Manhattan office tower, 100 Park Avenue. The company refinanced the property's debt, extending the maturity date of a $360 million mortgage to December 2027 while maintaining a 2.25% interest rate. Lenders provided an additional $70 million to the debt, a rare increase in recent years.
SL Green also agreed to purchase its partner Prudential Financial's 49.9% stake in the property, which has been owned since 2000 as part of a joint venture. The company made Alvarez & Marsal's lease at the property official, a 220,000-square-foot deal that brings occupancy to 96%. This move comes after SL Green acquired the office portion of 500 Park Avenue from Morgan Stanley for $130 million and finalized an extension on a $743 million loan backing the property at 1515 Broadway.
realestate
SL Green Refinances 100 Park, Acquires Partner's Stake
SL Green Announces Refinancing and Ownership Moves at 100 Park Avenue Office Tower
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Veteran leader with industry expertise and regional insight
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LA's affluent neighborhoods face gentrification threat from investors
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Charming Paws Expands to Grafton, Wisconsin Location
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