Deutsche Bank has provided Macklowe Properties with $750 million in construction debt for the office-to-residential conversion at 1 Wall St. in Manhattan, according to The Real Deal.
In partnership with Qatari billionaire and former prime minister Sheikh Hamad Bin Jassim Bin Jaber al-Thani (HBJ), the developer is planning 566 condos with retail at the base.
The construction loan carries a five-year term with a rate in the 5 percent range.
