TPG Real Estate Finance Trust Provides $143M Loan For Microsoft's Office Space In Manhattan
300 Lafayette St, Manhattan, New York, NY, USA
$143,000,000
$1,743/SF
Building Size
82,000 SF
Asset Type
Office
Closing
May 14, 2019
About this deal
AI
TPG Real Estate Finance Trust has provided a loan of $143,000,000 for an office property located at 300 Lafayette St in Manhattan. The property spans 82,000 square feet and is owned by Nightingale Properties and Wafra. The tenant of this office space is Microsoft. The deal was facilitated by NKF, with brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Dylan Kane representing the parties involved.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $143,000,000
- Address: 300 Lafayette St
- Market: Manhattan
- Tenant: Microsoft
- Brokers: NKF - Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Dylan Kane
The loan provided by TPG Real Estate Finance Trust has allowed Nightingale Properties and Wafra to secure funds for their office property at 300 Lafayette St, which serves as the home for Microsoft. The deal was orchestrated by NKF, with brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Dylan Kane playing a key role in representing the parties involved.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93