Deutsche Bank Provides $321M for 575 Fifth Avenue
By Danielle Balbi October 15, 2015 3:59 pm
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Beacon Capital Partners borrowed $321 million from Deutsche Bank to finance its stake in an office tower at 575 Fifth Avenue, according to city records.
The bank provided the real estate investment firm, which is headquartered in Boston, with a $271.1 million acquisition loan, a $37.3 million building loan and a $12.6 million project loan, the loan documents state.
Beacon purchased commercial condominium units in the 35-story office building, located between East 46th and East 47th Streets, from MetLife this August, for an undisclosed amount.
A representative for Beacon Capital did not immediately respond to press inquiries.
