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Related Companies Secures $450M Refinance Loan From MetLife & Pacific Life

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FINANCED
$450,000,000

New York

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Condo
Financed 04/29/2024
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FINANCED

Related Companies Secures $450M Refinance Loan From MetLife & Pacific Life

10 Columbus Circle & 35 Columbus Circle

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Condo
Financed 04/29/2024
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Summary

NEW YORK
Asset Type:Condo
Transaction Type:Loan

The property involved in the transaction is a retail condominium unit and garage property located at 10 Columbus Circle in Manhattan's Lincoln Square. The loan amount for this asset is $450,000,000. The property belongs to Andrew Rosen of Related Companies. The lenders for the refinance loan are Pacific Life Insurance Company represented by John Waldeck and MetLife represented by Brett Ulrich.

Summary of transaction details:

  • Property Type: Condo & Parking Lot
  • Transaction Amount: $450,000,000
  • Address: 10 Columbus Circle & 35 Columbus Circle
  • Market: Lincoln Square, Manhattan
  • Lender: Pacific Life Insurance Company - John Waldeck & MetLife - Brett Ulrich
  • Landlord: Andrew Rosen - Related Companies

The deal involves Related Companies securing a $450 million refinance loan from MetLife and Pacific Life Insurance Company for the retail condominium unit and garage property at 10 Columbus Circle in Manhattan. John Waldeck represents Pacific Life Insurance Company, while Brett Ulrich represents MetLife in this transaction.

Players

LENDER

MetLife
LENDER

Details

FINANCED
IMAGE: Andrew Rosen DATE: 04/29/2024 ADDRESS: 10 Columbus Circle & 35 Columbus Circle MARKET: Lincoln Square, Manhattan ASSET TYPE: Condo & Parking Lot LENDER: Pacific Life Insurance Company - John Waldeck & MetLife - Brett Ulrich LANDLORD: Andrew Rosen - Related Companies (@RelatedCos) LOAN AMOUNT: $450,000,000 LOAN TYPE: Refinance NOTE: Related Companies secures a $450 million refinance loan from MetLife and Pacific Life Insurance Company for the retail condominium unit and garage property at 10 Columbus Circle in Manhattan's Lincoln Square, known as the Shops at Columbus Circle.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$450,000,000.00

Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00