X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
225-233 Park Ave. South. Photo Credit: Neoscape 225-233 Park Ave. South recently underwent a $135-million capital improvement program. Photo Credit: Neoscape

NEW YORK CITY—Orda Management Corp. has closed on $430 million in debt financing provided by Barclays on its recently repositioned 225-233 Park Ave. South office building here.

The deal, arranged by NKF Capital Markets, is structured as a 10-year fixed rate interest-only loan that replaces a $217-million loan from New York State Teachers’ Retirement System. According to NKF Capital, the financing allowed the building owner to recapture equity spent on a $135-million capital improvement program at the complex that was undertaken over the last 18 months.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.