NEW YORK CITY-PBC USA Real Estate LLC said lateMonday afternoon that it had secured a $400-million loan fromJP Morgan Chase to refinance 452 Fifth Ave., the30-story office tower it acquired in a $330-millionsale-leaseback from HSBC in April2010. Shawn Rosenthal of AckmanZiff arranged the refi, which consists of a$300-million, 10-year senior loan and $100 million of mezzaninedebt. The long-term loan is non-recourse, five years interest onlywith a blended interest rate of 5.04%.

Although HSBC leased the entire 865,000-square-foot tower for ayear following the sale, PBC USA then embarked on a repositioningand re-tenanting at 452 Fifth. Phase one of a $22-million makeover,which included a redeveloped lobby and entrance, was completed in2011.

Since then, PBC USA has lengthened the tenant roster at 452Fifth, which still serves at the base of HSBC’s US operations, withthe bank leasing 600,000 square feet on its lower floors. This pastAugust, international law firm Baker & McKenzie signed on for about100,000 square feet there; other tenants that have come to 452Fifth include RW Presspich, Wood Mackenzie, ManGroup, VTB Capital and NCH Capital. It’s currently 92%leased, according to a release. The retail portion of the buildinghouses the New York City flagship branches of HSBC Bank,Panera Bread and Staples.