HFF arranges $500m for Old Slip offices.The New York and Boston offices of HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor (Holliday Fenoglio Fowler, L.P.) announced that they arranged $500 million in financing for Financial Square, also known as 32 Old Slip, which is a Class A office tower in downtown Manhattan. HFF senior managing director Mike Tepedino and senior managing director Fred Wittmann (HFF Boston) worked on behalf of Beacon Capital Partners to secure a five-year, fixed-rate loan through Met Life Real Estate Investments, New York State Teachers Retirement System and GE Pension Trust. Proceeds are being used to acquire the building, make capital improvements and lease the remaining tenant space. Financial Square has 1,132,340 s/f of office space and a 108-space underground parking garage. The property is currently 90.3% occupied by tenants including Goldman Sachs, AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group , Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , HIP, Daiwa and the US General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. . Located at 32 Old Slip in downtown Manhattan, Financial Square is close to the Staten Island Ferry The Staten Island Ferry is a passenger ferry operated by the New York City Department of Transportation between Whitehall Street at the southernmost tip of Manhattan near Battery Park (South Ferry) and St. Terminal, the South Ferry Subway Terminal, Promenade South, as well as the Fulton Street Transit Center The Fulton Street Transit Center is a $750 million project, currently in progress in New York City, USA, that will improve access to and connections between 12 subway services stopping at Manhattan's Fulton Street, PATH service and the World Trade Center station in Lower Manhattan. and Calatrava Station, both currently under construction. Based in Boston, Beacon Capital Partners is a real estate investment firm that focuses on office property investments in a select number of target markets throughout the United States and western Europe. HFF operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sale and note sales advisory services and commercial loan servicing. |
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