Deutsche Bank Lends $168M on Carlyle Group’s 866 UN Plaza Deal
Cathy Cunningham April 11, 2017, 5:41 p.m.
The debt replaces and consolidates a $49.9 million existing mortgage on the property with $118.2 million in new financing, bringing the new debt total to $168 million.
Meadow Partners bought the 477,000-square-foot mixed-use commercial condo property in November 2013 and, as previously reported by Commercial Observer, refinanced the building with a $200 million loan from Mack Real Estate Credit Strategies in May last year.
As reported by The Real Deal when the deal was in contract, The Carlyle Group snatched up the unsold office condo units for around $218 million last month in a transaction brokered by Ackman-Ziff’s Patrick Hanlon. The real estate publication named Deutsche Bank as the rumored lender on the transaction at the time. The sale closed March 30 and appeared in property records today.
A spokesperson for The Carlyle Group declined to comment. A representative for Deutsche Bank did not immediately return a request for comment.