$400M loan is placed on Bloomberg Tower.German American Noun 1. German American - an American who was born in Germany or whose ancestors were German American - a native or inhabitant of the United States Capital Corporation has placed a $400 million loan on the Bloomberg Tower One Beacon Court (also called the Bloomberg Tower), is a skyscraper on the East Side of Midtown Manhattan. It houses the headquarter of Bloomberg L.P. It is located at 731 Lexington Avenue (between East 58th and 59th streets). , a high-profile mixed-use project being developed by Vornado Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. on the former Alexander's site. The loan, $253 million of which was used to repay the company's outstanding construction loan with Hypo Real Estate The Hypo Real Estate Holding AG (ISIN: DE0008027707) is based in Munich, Germany and comprises three banks:
According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Vornado, the new loan features a 5.33% rate, a 10-year term and a 25-year amortization schedule. The arrangement means that the tower (reported to cost approximately $650 million) will no longer be held as collateral. The Bloomberg Tower, located a 731 Lexington Ave., will be a 1.4 million s/f office building, containing 900,000 s/f of office space, 100 residential condos and two retail floors. Back in 2001, Bloomberg Inc. pre-leased 700,000 s/f at the building. Newmark & Co. is serving as the exclusive leasing agent for the remainder of the space. The Bloomberg Tower is expected to be completed by May of 2004. |
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