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October 19, 2007
Forest City Closes On NYT Bldg $640M Refi
GlobeSt.com, Forest City Closes On NYT Bldg $640M Refi
In a marketplace where financing is allegedly scarce:
In the largest deal in the company’s history, Forest City Ratner Cos. has refinanced the New York Times Building, located at 620 Eighth Ave., for $640 million. The closing of the financing with HSH Nordbank comes one month before the 1.5-million-sf building is slated to hold its grand opening.
FCRC co-owns the Midtown property with the New York Times Co. The Times owns the second through 27th floor; FCRC owns the 29th through 50th floors, the 52nd floor and 21,000 sf of ground-floor retail. The two jointly own the 28th and 51st floor.
More:
PR-Inside.com, Forest City Closes on $640 Million Refinancing for The New York Times Building - Largest Permanent Loan in Company's History
Commercial Property News, Forest City Closes on $640M Times Building Refi
Posted by lumi at October 19, 2007 6:54 AM