Wells Fargo Refinances Global Holdings’ 1250 Broadway With $450M CMBS Loan

Eyal Ofer’s Global Holdings has secured $450 million of commercial mortgage-backed securities (CMBS) debt to refinance its NoMad Tower office property, Commercial Observer has learned.

Wells Fargo provided the three-year CMBS loan for the 39-story tower at 1250 Broadway in Manhattan’s NoMad neighborhood, sources told CO. NoMad Tower stretches the length of Broadway between West 31st and West 32nd streets.

Eastdil Secured arranged the loan with a team consisting of Grant Frankel, Rob Turner and Ethan Pond. 

NoMad Tower houses a number of technology tenants, including AI lending firm UpStart, which signed a seven-year lease for 15,356 square feet on the entire 33rd floor last November, as CO first reported at the time. The building is also home to fintech firms Copper and Toss Securities, software company Elastic, data platform Datavant, law firm Gunderson Dettmer and real estate app Zillow.

“Across our New York City portfolio, we have invested significant capital since the 1980s to create best-in-class assets characterized by elevated design, modernized infrastructure, and hospitality-driven amenities.” Ofer, chairman of Global Holdings, said in a statement. “Nomad Tower – 1250 Broadway is a prime example, where this comprehensive approach has attracted top-tier tenants and strengthened demand in the NoMad submarket.”

Representatives for Wells Fargo and Eastdil Secured did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.