Finance Deals of the Week: A Massive $911M Refi in New York City

The top five financing deals from April 8 to April 12

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It was the biggest week yet this year for financings in America, headlined by a stunning $911 million refinancing at 425 Park Avenue by L&L Holding. There’s also an enormous financing for affordable housing in the New York City area, with Gotham Organization and its partner Monadnock Development securing $270 million to develop new housing out in East New York, Brooklyn. But it’s not all about New York — Blackstone secured a $428.5 million refinancing for its portfolio of 23 hotels. Take a look!

Loan Amount Lender Borrower Address Asset Broker
$911 million Sumitomo Mitsui Trust Bank L&L Holding Company 425 Park Avenue; New York City Office N/A
$428.5 million Morgan Stanley and Société Générale Blackstone 23-property portfolio; Georgia, Florida, Illinois, Colorado and Utah Hotel CBRE's Tom Traynor, Tom Rugg, Lawrence Britvan, Mark Finan and Michael Straw
$270 million New York State Housing Finance Agency, New York City Department of Housing Preservation and Development, Urban Investment Group at Goldman Sachs Gotham Organization, Monadnock Development 12020 Flatlands Avenue; Brooklyn Affordable Housing N/A
$155 million Citi Real Estate Funding Williams Equities 28-40 West 23rd Street; New York City Office Ackman-Ziff’s Simon Ziff and Russell Schildkraut
$150 million Scale Lending Beitel Group 120 East 144th Street; the Bronx Multifamily Landstone Capital Group’s Leah Paskus

Finance Deals of the Week reflect deals closed or announced from April 8 to April 12. Information on financings can be sent to editorial@commercialobserver.com.