Walker & Dunlop Arranges $228.9 Million Refinancing for 100-Year-Old Manhattan Landmark
Walker & Dunlop, Inc. announced today that it arranged $228.9 million in financing to refinance a newly redeveloped, 19-story Class A office tower in Manhattan's Midtown South submarket. Better known as the Textile Building, 295 Fifth Avenue is a more than 100-year-old landmark that long served as a hub of New York City's textile industry.
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295 Fifth Avenue. Photo Credit: PGIM
Walker & Dunlop Capital Markets Institutional Advisory served as an exclusive advisor to the joint venture consisting of PGIM, Tribeca Investment Group, and Meadow Partners. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Brown, Christopher de Raet, and Jack Krentzman arranged the floating-rate, interest-only bridge loan with capital provided by a joint venture between Rialto Capital Management LLC and Hines.
