REIT

February 23, 2016 Comments Off on REIT Obtains $296M in Financing for NY Portfolio Views: 252 California News, National News, New York, Northeast

REIT Obtains $296M in Financing for NY Portfolio

SL Green Realty Corp, A REIT focused on acquiring and managing commercial real estate in New York City, has closed on loans totaling $296 million for three assets in and near Manhattan.

A Class A office building at 800 Third Ave. received $177 million in refinancing; the 662,000-square-foot Jericho Plaza on Long Island received initial funding of $75 million for capital improvement purposes (with total expected funding of $100 million); and 719 Seventh Ave. in Times Square received a $44 million loan for construction of retail space and updated signage.

SL Green’s President Andrew Mathias says, “The successful completion of these transactions provides evidence that liquidity continues to be available for high-quality borrowers.”

Read More at Real Estate Business Online

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