Interest rate dip benefits borrower.Michael Sherman, director, and Efrat Sharon, analyst of CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) | Melody's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of office have arranged $7:1 million in refinancing Refinancing An extension and/or increase in amount of existing debt. for One Penn Center on behalf of One Penn Associates, LP. The 10-year (six years interest only) loan was funded by Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. . "The financing of One Penn Center afforded us the opportunity to take advantage of the dip in interest rates which enabled the borrower to refinance at a most attractive rate" said Sherman. "We were most fortunate to have a lender who understood the need for a timely, rapid process which resulted in a quick turnaround from start to finish without which the transaction could never have been accomplished." One Penn Center is a highly visible 20-story office building situated on a 0.982-acre site in the central business district of Philadelphia, Penn. Constructed of gray limestone, black marble, and decorated with ornate gold-plated fixtures, One Penn Center is considered one of the richest examples of Art Deco art deco (ärt dĕkō`; är dākō`, ärt) or art moderne (är môdĕrn`, ärt) style architecture in the world. Currently 95% occupied, One Penn Center is strategically located in the heart of Center City Philadelphia. |
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