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NEW YORK CITY-Brookfield Office Properties has refinanced its 1.6-million-square-foot tower at 245 Park Ave. for $800 million, the Wall Street Journal reported Thursday. The loan for the 44-story office property is reportedly the largest to date from the Bank of China’s New York branch, as well as the one of the largest loans from any source since the economic downturn began.

The WSJ noted that Industrial & Commercial Bank of China Ltd., China’s largest bank by assets, began year rolling out a “large-loan” program earlier this year, aimed at US commercial real-estate owners that needed loans exceeding $100 million. China Investment Corp., the $300-billion sovereign-wealth fund, also seeks to put cash into domestic real estate through investing with US property-fund managers, according to the WSJ.

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