Swig closes on $70m loan for 44 Wall St.Kent M. Swig, president of Swig Equities, in partnership with Zamir Equities, announced that Ackman-Ziff Real Estate recently closed a $75 million fixed rate financing for 44 Wall Street, a 25-story, 350,000 s/f office building in Downtown Manhattan. In 2004, Ackman-Ziff represented the borrower for the acquisition financing of 44 Wall Street. "We are extremely pleased with the financing secured by The Ackman-Ziff Real Estate Group. They have provided exceptional, professional and timely service in placing this loan for our company," Swig said. The Ackman-Ziff Real Estate Group, based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with offices in Boston, Washington D.C., Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Miami specializes in debt, mezzanine and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. for commercial real estate. In 2005, the firm successfully arranged $4.2 billion of debt, mezzanine and equity capital for real estate transactions. 44 Wall Street, located in the heart of Downtown Manhattan's financial district, is a 25-story 350,000 square foot multi-tenant office building that was built in 1927 and designed by architects Trowbridge & Livingstone. Swig Equities and Zamir Equities each own 50% of the building and Swig Equities serves as the leasing agent and property manager. The ownership team has brought the building to full occupancy. Building upon Swig Equities' successful renovation and leasing of 100 William Street William Street may refer to:
Renovations to the building will include a redesigned and renovated building lobby; the installation of a new two-story storefront entrance; newly refurbished elevator cabs; new core bathrooms and new multi-tenant floor upgrades for newly signed leases; and the installation of state of the art security and fire/life safety systems. Located on the northwest corner of Wall and William Streets, one block from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and diagonally across the street from the Cipriani Grand Ballroom, 44 Wall Street has maintained all of the original 1927 architectural detail of this landmark building, while renovating many of its internal workings, including the installation of a new fiber-optic backbone for broadband internet access Broadband Internet access, often shortened to just "broadband", is high speed Internet access—typically contrasted with dial-up access over modem. Dial-up modems are generally only capable of a maximum bitrate of 56 kbit/s (kilobits per second) and require the full use of a ; the soon to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. new and expanded lobby that will be exquisitely restored and expanded to include a new concierge desk and enhanced security systems; and new granite and ceramic tile ADA-compliant bathrooms for each newly tenanted floor. Tenants also benefit from full floor identity with floors ranging from 16,100 to 7,000 square feet. |
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