Cain and Alchemy-ABR Financial investment Partners have actually secured a $321-million refinancing for 125 W. 57th St., a freshly delivered Class An office tower on Billionaires’ Row in Manhattan’s Plaza District. The financing was supplied by JPMorgan Chase as senior loan provider and Hudson Bay Capital as mezzanine loan provider.
The transaction follows JPMorgan Chase’s function as senior lending institution on Cain’s $4.3-billion One Beverly Hills building and construction funding, the largest of its kind in years, and Cain’s shipment of 830 Brickell in Miami, a completely leased Class An office tower with occupants including Castle, Microsoft, Kirkland & Ellis, Marsh, Thoma Bravo and Sidley Austin.
“Area, style and execution are what separate the extraordinary from the merely available, and excellent cities continue to reward that distinction,” stated Jonathan Goldstein, CEO and co-founder of Cain. “We saw it at 830 Brickell in Miami, and we see it once again here. This refinancing, backed by leading banks, speaks with the depth of need for possessions of this quality.”
Walker & Dunlop Capital Markets Institutional Advisory served as unique advisor to Alchemy-ABR Financial investment Partners and Cain in setting up the financing. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Sean Reimer, Dustin Stolly and Sean Bastian led the deal.
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