In one of the agreements, the Moinian Group's loan on 17 Battery Pl., a 22-story, 400,000 square foot office tower, was extended. The lender group also agreed in a separate deal to restructure and extend the mortgage and mezzanine loans on the 1.1-million-square-foot 180 Maiden Ln., which houses AIG and law firm Stroock & Stroock & Lavan, among other tenants. The two refis total more than $400 million, the Moinian Group says; a report in the New York Post puts the total for the two properties at $504 million.
"We have confidence in Joe Moinian's ability to add value to the properties," says Marc Holliday, CEO of SL Green Realty Corp., a member of the lender group holding the loan on 17 Battery, in a statement. Robert Verrone, principal of real estate advisor Iron Hound Management Co., acted as special consultant to the Moinian Group in both transactions.
Separately, the Moinian Group, led by CEO Joseph Moinian, announced the completion of a new first mortgage loan and an extension of a mezzanine loan for the Ocean, a fully leased luxury residential rental property at 1 West St. Downtown. Met Life provided the first mortgage for the property, while the mezzanine loan was provided by Deutsche Bank and Resource, for a total of $150 million, according to a release.
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