Key facts
- Rithm Capital secured a $415 million CMBS loan for a Midtown Manhattan office tower.
- Rithm Capital also secured $85 million in mezzanine debt for the same property.
- The office tower is 29 stories tall and located in Midtown Manhattan.
- The new financing replaces a previous $500 million loan.
- The new loan has a fixed interest rate of 6.85%.
- The loan matures in December 2029.
Rithm Capital has successfully refinanced a 29-story office tower located in Midtown Manhattan, securing a $415 million Commercial Mortgage-Backed Securities (CMBS) loan. In addition to the CMBS loan, the company also obtained $85 million in mezzanine debt, bringing the total new financing to $500 million. This new debt package replaces a previous $500 million loan that was set to mature. The new financing comes with a fixed interest rate of 6.85% and is scheduled to mature in December 2029. The refinancing effort is a strategic move by Rithm Capital to manage the debt on the office property, likely in response to evolving market conditions and interest rate environments.