Olayan Group Secures $800 Million Refinance From ING Capital For 550 Madison Avenue Office

The asset involved in this transaction is an office building located at 550 Madison Avenue in Midtown East, Manhattan. This property spans a total of 685,125 square feet and has secured a refinance loan amount of $800 million, which replaces $570 million in prior debt secured from the same lender.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $800,000,000
• Lender: ING Capital
• Landlord: Olayan Group
• Previous Debt: $570,000,000

Olayan Group, acting through OAC 550 Owner LLC, was responsible for securing the $800 million refinancing from ING Capital for the office building, illustrating the ongoing relationship between the lender and the landlord in the financial management of the property.