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Newmark announced that it has closed an acquisition and construction loan for 111 Wall Street, New York, on behalf of Nightingale Properties and Wafra Capital Partners.
The frequent institutional joint venture partners will use a debt package exceeding $500 million to reposition and redevelop 111 Wall Street into a one-of-a-kind Class A office destination in the heart of Downtown Manhattan. The loan was funded by a consortium that included SKW Funding, PIMCO, Oaktree Capital and Bain Capital,
Commercial Observer reported.
111 Wall Street, NY – Image courtesy of Neoscape
The Newmark team, led by Dustin Stolly and Jordan Roeschlaub secured the debt. David Blaivas of Blaivas & Associates, P.C. advised Nightingale and Michael Lefkowitz of Rosenberg & Estis, P.C. advised WCP in the transaction.