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111 Wall Street, Manhattan,...

PIMCO, SKW Funding, Oaktree Capital, And Bain Capital Provide $500M Loan For 111 Wall Street Acquisition & Construction
FINANCEDOffice

PIMCO, SKW Funding, Oaktree Capital, And Bain Capital Provide $500M Loan For 111 Wall Street Acquisition & Construction

111 Wall Street, Manhattan, New York, NY, USA

$500,000,000

$416/SF

Building Size

1,200,000 SF

Asset Type

Office

Closing

Jun 11, 2020

AI

Located at 111 Wall Street in the Financial District, this office property spans an impressive 1,200,000 square feet. The transaction involved an acquisition and construction loan, with a loan amount of $500,000,000. The lenders in this deal included PIMCO, SKW Funding, Oaktree Capital, and Bain Capital. Nightingale Properties and Wafra Capital Partners acted as the landlords in this transaction. The brokers involved in this deal were Dustin Stolly, Jordy Roeschlaub, Nick Scribani, Clark Finney, Frank Doyle, Benjamin Bass, and Andrew Coe.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $500,000,000
  • Address: 111 Wall Street
  • Market: Financial District
  • Asset Type: Office
  • Square Feet: 1,200,000

The lenders in this transaction, PIMCO, SKW Funding, Oaktree Capital, and Bain Capital, played a significant role in providing the necessary capital for the acquisition and construction loan. On the other side of the deal, Nightingale Properties and Wafra Capital Partners acted as the landlords. The brokers involved in facilitating this transaction were Dustin Stolly, Jordy Roeschlaub, Nick Scribani, Clark Finney, Frank Doyle, Benjamin Bass, and Andrew Coe. Their expertise and negotiation skills were instrumental in bringing this deal to fruition.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

268 deals

Broker
SKW Funding
SKW FundingLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93