Sovereign Partners Secures $150 Million Refinance Loan From Rialto Capital For 100 5th Avenue

The asset involved in this transaction is a 20-story office building located at 100 5th Avenue in the Union Square market. The building has a total of 277,000 square feet and was acquired by Sovereign Partners for $126.5 million in 2023. It is fully leased and anchored by Adobe.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $150,000,000
• Lender: Rialto Capital Management
• Landlord: Sovereign Partners
• Brokers: Jordan Roeschlaub & Christopher Kramer - Newmark
• Loan Type: Refinance

Key individuals involved in this transaction include Jeff Krasnoff, who is representing Rialto Capital Management as the lender. Additionally, the brokers facilitating the deal, Jordan Roeschlaub and Christopher Kramer, represent Newmark in this transaction.