Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 30 January 2001

Brookfield Completes $432 Mln Financing at Downtown Manhattan's One Liberty Plaza

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January 31, 2001

NEW YORK – Brookfield Properties Corp. (NYSE:BPO) has completed a $432 million refinancing of its 2.2 million-square-foot One Liberty Plaza property in downtown Manhattan.

The investment grade financing, recourse only to the property, has a term of 10 years and a fixed-rate coupon of 6.75 percent. As expected, the financing was underwritten by Goldman Sachs and will be shopped to investors in a forthcoming single-asset CMBS deal.

The financing follows the signing last year of about 750,000 sf of new leases with Goldman Sachs, and Nasdaq Stock Markets, who are relocating their world headquarters from Washington to Brookfield's One Liberty Plaza property.

A portion of the funds were used by Brookfield to extinguish debt currently on the property, and the balance will be used for general corporate purposes.


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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Office
  • Subject: Commercial MBS (CMBS), Mortgages/Financing (MOR)
  • Company: Burnham Pacific Properties, Gotham Partners LP
  • Valuation: More than $150 million
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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