Metro Loft finalizes recap of 180 Water Street
Nathan Berman’s Metro Loft sealed the deal on its recapitalization of one of its most prominent conversions. Metro Loft secured a five-year, $280 million mortgage to refinance its debt at 180 Water Street in the Financial District, Crain’s reported. The Deutsche Bank loan carries a 6.4 percent fixed interest rate, according to Moody’s. To avoid a looming $365 million debt maturity, Metro Loft also brought in additional investors. Sentuy Realty and 60 Guilders bought the property’s mezzanine loan for $80 million and invested an additional $40 million in the building. Metro Loft is still an owner of the property, though […]This article originally appeared on The Real Deal. Click here to read the full story.
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