Tishman Speyer has announced a $385 million refinancing of 300 Park Avenue, its fully leased class A office tower in Manhattan’s iconic Plaza District.
A $330 million CMBS loan with a fixed interest rate of 5.44 percent was led by JPMorgan Chase with Deutsche Bank Securities and Morgan Stanley serving as co-lenders. Tishman Speyer concurrently closed on $55 million in mezzanine financing with Macquarie Capital Principal Finance. The proceeds from the refinancing will be used to pay off 300 Park Avenue’s existing loan.
Since 2021, Tishman Speyer has secured 440,000 square feet of new leases, extensions and expansions at 300 Park Avenue. The 25-story tower is home to such prominent customers as Colgate-Palmolive, Ally Bank and GoldenTree Asset Management.
“Our refinancing of 300 Park Avenue is the culmination of a strategic process that positions the tower for continued success well into the future,” said Randall Rothschild, Tishman Speyer senior managing
