Tishman Speyer has refinanced The Spiral, its new Manhattan office tower, with a $2.85 billion CMBS loan.
The Spiral is 94 percent leased two years after its opening. The five-year, fixed-rate loan is led by JPMorgan Chase, with Bank of America, Goldman Sachs and Wells Fargo serving as co-lenders.
Tishman Speyer now has successfully secured nearly $6.4 billion in refinancings on two marquee New York City office properties in less than three months. On Oct. 18, 2024, Tishman Speyer closed on a $3.5 billion CMBS loan for its Rockefeller Center campus, the largest issuance ever for a single office asset.
“We are exceptionally proud of The Spiral and pleased to deliver value for our investors,” said Tishman Speyer CEO Rob Speyer. “Together, The Spiral and Rockefeller Center demonstrate that premier properties with the right amenities, strong occupancy and established sponsors continue to outperform the market.”
Tishman Speyer commenced constru
