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120 Park Avenue Refi Signals CRE Recovery | Real Estate News
Eyal Ofer’s Global Holdings just landed a $382 million refinancing for 120 Park Avenue, securing new loans from Wells Fargo and LBBW to pay off an older HSBC debt — a move that underscores confidence in the building’s future after landing a major long-term lease with Bloomberg. The 26-story, 620,000-square-foot tower, purchased in 2008 for over $525 million, has seen significant upgrades including lobby renovations and elevator updates. This deal is part of a broader uptick in commercial real estate lending, up 16% year-over-year in Q2, with projections nearing $800 billion in originations…
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