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Sign in Sign up for a FREE subscriptionTishman Speyer completes $3.5b refinancing for Rockefeller Center
Tishman Speyer announced it has successfully refinanced its iconic Rockefeller Center campus via a $3.5 billion CMBS loan, the largest issuance ever for a single office asset.
Bank of America and Wells Fargo served as co-lead managers on the five-year single-asset, single-borrower loan with a fixed interest rate of 6.2265 percent. The proceeds will be used to pay off Rockefeller Center’s previous 20-year, $1.7 billion CMBS loan and additional mezzanine financing, set to mature in May 2025, and fund reserves for contractual leasing costs.
The legendary Rockefeller Center was built nearly a century ago as a “city within the city.” The 7.3 million-square-foot campus encompasses workspaces, multilevel retail, popular attractions, private event spaces and dining options, as well as open spaces including the new 24,000-square-foot park atop Radio City Music Hall. Rockefeller Center is co-owned by Henry Crown & Co., the Crown family’s Chicago-based investment fu