Financial institution of America provided a $208 million senior mortgage in RXR’s $260 million refinancing of 75 Rockefeller Plaza, whereas The Carlyle Group supplied a $52 million mezzanine mortgage, Industrial Observer has realized.

The five-year floating-rate mortgage is listed to SOFR and priced at S+395 foundation factors, sources accustomed to the deal advised CO. 

The transaction got here a 12 months and a half after Carlyle Group employed Roger Cozzi from AllianceBernstein as head of actual property credit score as a part of an elevated push for alternatives within the industrial actual property debt house. 

Newmark organized the financing with a group led by Jordan Roeshlaub, Dustin Stolly and Nick Scribani.

RXR, whose headquarters are housed at 75 Rock, acquired the leasehold curiosity on the 627,000-square-foot tower in 2013. The corporate invested $150 million for property enhancements in 2017 that included restoration of the limestone constructing façade, a brand new foyer and predominant entrance, upgraded elevators, new home windows and modernized constructing techniques. 

The 1947-built 75 Rock is on West 51st Avenue between Fifth Avenue and Avenue of the Americas. It options expansive flooring plates which might be conducive to quite a lot of layouts. Present workplace tenants embrace Financial institution of America and WeWork. American Woman anchors the ground-floor retail house.

In a launch, Stolly mentioned of 75 Rock, “the asset’s fundamentals are reflective of lender necessities in right this moment’s market: A+ sponsorship, investment-grade tenancy and a superior capital enchancment program in proximity to large life-style facilities.”

Officers at Carlyle Group didn’t instantly return a request for remark. Financial institution of America and RXR declined to remark. 

Andrew Coen may be reached at acoen@commercialobserver.com.