July 19, 2019
Berkadia secured a $49.8-million loan to refinance Pan American Life Center, a 28-story office building in New Orleans.
Located at 601 Poydras St., the property consists of 674,000 square feet of leasable office space. On-site features and amenities include building management, a covered parking garage and a full-service restaurant. The building’s Conference Center also features a 24,451-square-foot multi-purpose facility, and a 252-seat theater-style auditorium.
Andy Coleman of Berkadia secured the financing on behalf of the borrower, Louisiana-based Stirling Properties. The lender was Wells Fargo. The loan features a 10-year, fixed-rate term and a 25-year amortization schedule.
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