Brookfield refinances Crown Building retail condo

Brookfield Properties refinanced a retail condo at one of the crown jewels of Midtown Manhattan. London-based Cale Street Partners provided $601 million to refinance the retail condo at 730 Fifth Avenue, the Commercial Observer reported. The debt package, first reported by PincusCo, includes a $462.3 million loan, matching what Apollo Global Management provided three years ago; presumably, the remainder is mezzanine debt. The value of the debt backing the retail condo has jumped around over the last decade. Brookfield scored a $720 million loan in 2018 and a $587.3 million loan the following year before receiving Apollo’s $601 million loan […]This article originally appeared on The Real Deal. Click here to read the full story.