44 Wall Street

September 22, 2016 Comments Off on Blackstone Secures $99M in Financing for 44 Wall Street Views: 550 National News, New York News, Northeast

Blackstone Secures $99M in Financing for 44 Wall Street

Deutsche Bank and Paramount Group have teamed up to finance 44 Wall Street in New York City, a Blackstone Group-owned building. The total new debt was $98.7 million, with $83.2 million in debt advanced when the financing closed. Blackstone has access to $15.5 million in future funding for capital investments and leasing.

Blackstone acquired the building as part of a $2.7 billion real estate portfolio sale from Obligo, a Norwegian investment firm. Up until April 2016, two months before the Blackstone purchase, the office property was securitized in a Lehman Brothers and USB-sponsored conduit issued in 2006.

The building was also part of a tug-o-war between Obligo and minority owners Kent Swig and Asher Zamir, who sued then-majority owner Obligo when the latter attempted a full takeover of the building in 2012.

Read More at Commercial Observer

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