Tishman Speyer Lands $385M Refi for 300 Park Avenue 

Tishman Speyer has once again simultaneously added life to the commercial real estate office and securitization markets.

Rob Speyer’s firm secured a $330 million commercial mortgage-backed securities (CMBS) debt package to refinance its 300 Park Avenue property in a deal led by J.P. Morgan Chase, Deutsche Bank and Morgan Stanley, the company announced Monday. The property owner also concurrently landed a $55 million mezzanine loan from Macquarie Capital Principal Finance for the fully leased 25-story office tower.

CoStar first reported the CMBS transaction citing rating agency reports. 

The CMBS loan, which closed at a 5.44 percent interest rate, was completed nearly a year after Tishman Speyer sealed a a $3.5 billion CMBS refinance for its Rockefeller Center office complex in October 2024, in a deal that set the market for the largest-ever single-asset, single-borrower (SASB) office deal. Tishman Speyer followed up that historic transaction with a $2.85 billion SASB refi for its 66-story, 2023-built The Spiral office tower in Manhattan’s Hudson Yards.

Eastdil Secured arranged the transaction.

The fully leased 300 Park Avenue has inked 444,000 square feet of new leases, extensions and expansions since 2021, according to Tishman Speyer. Anchor tenants in the 1955 constructed building include Colgate-Palmolive, Ally Bank and GoldenTree Asset Management.

“Our refinancing of 300 Park Avenue is the culmination of a strategic process that positions the tower for continued success well into the future,” Randall Rothschild, senior managing director at Tishman Speyer, said in a statement. 

J.P. Morgan Chase, Deutsche Bank, Morgan Stanley and Macquarie Capital Principal Finance declined to comment. 

Andrew Coen can be reached at acoen@commercialobserver.com