ULLICO Provides $35M Refi for Westchester Office Property
The RPW Group has landed a $34.9 million refinance for its office property at 450 Mamaroneck Avenue in Harrison, N.Y., Commercial Observer has learned.
The financing replaces previous debt on the property, also provided by ULLICO.
The property is a four-story, 176,649-square-foot office building in the heart of Westchester County. RPW purchased the asset in May 2011 and has since upgraded it to a Class A property that is 100 percent occupied. Its amenities include onsite security, a child care center and a cafeteria.
Earlier this month, RPW — headed by Robert and Andrew Weisz — expanded its Westchester portfolio with the $36 million acquisition of 100 Manhattanville Road, a Class A office complex in Westchester County, N.Y., as first reported by CO. Cooper-Horowitz also negotiated the acquisition debt for that purchase.
“We own more than 2 million square feet in Westchester,” Robert Weisz told CO at the time of the purchase. “This is a terrific building and a wonderful addition to our portfolio.”
RPW has purchased and repositioned more than 6 million square feet of office and retail space in New Jersey, Fairfield County and Westchester County. Its Manhattan properties include 240 West 35th Street and 275 Madison Avenue; ULLICO provided a $210 million refinance for the latter in July 2018.
Officials at RPW Group and ULLICO weren’t immediately available for comment. Cooper-Horowitz officials declined to comment.