Walker & Dunlop announced that it arranged a $1.2 billion refinancing for One High Line, a premier luxury mixed-use property located along Manhattan’s iconic High Line and adjacent to the vibrant Meatpacking District.
The Walker & Dunlop New York Capital Markets team acted as exclusive advisers to The Witkoff Group, Access Industries and Monroe Capital. The team also identified JP Morgan to provide the senior loan and TYKO Capital, which is backed by Elliott Investment Management, to provide the mezzanine financing. The funds will be utilized to repay existing debt, fund remaining hard and soft costs, establish an interest and carry reserve, and cover financing and closing costs associated with the transaction.
One High Line spans 750,000 net square feet, set across two towers and a five-story commercial building. It houses 236 substantially completed condominium units and more than 18,000 square feet of residential amenities. A 120-key Faena branded hotel is
