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

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FINANCED
$500,000,000
Benjamin Bass
Andrew Coe
+ 4

New York

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Office1,200,000 SF
Financed 06/11/2020
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Property Image
FINANCED

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

See Similar Deals
Office1,200,000 SF
Financed 06/11/2020
Benjamin Bass
Andrew Coe
+ 4
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$416
Total Square Footage:1,200,000 SF
Transaction Type:Loan

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
264 deals$49.1B volume
BROKER

Nick Scribani
Newmark
191 deals$55.1B volume(212) 372-2113
BROKER

Frank Doyle
JLL
25 deals$538.2M volume
BROKER

Clark Finney
JLL
11 deals$500M volume
BROKER

Benjamin Bass
JLL
27 deals$770M volume(212) 812-6026
BROKER

Andrew Coe
JLL
18 deals$500M volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

SKW Funding
LENDER


Details

FINANCED
IMAGE: Jordy Roeschlaub, Emmanuel Roman, Elie Schwartz, Michael Gontar, Will Hutton, Daniel J. Ivascyn, Dustin Stolly & Nick Scribani DATE: 06/11/2021 ADDRESS: 111 Wall Street MARKET: Financial District ASSET TYPE: Office ~ SF: 1,200,000 LENDER: PIMCO, SKW Funding, PIMCO, Oaktree Capital & Bain Capital LANDLORD: Nightingale Properties & Wafra Capital Partners BROKERS: Dustin Stolly, Jordy Roeschlaub & Nick Scribani - Newmark, Clark Finney, Frank Doyle, Benjamin Bass & Andrew Coe - JLL LOAN AMOUNT: $500,000,000 LOAN TYPE: Acquisition & Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$500,000,000.00

Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00