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Olayan Group Secures $800 Million Refinance From ING Capital For 550 Madison Avenue Office
FINANCED
$800,000,000
New York
See Similar DealsOffice685,125 SF
Financed 02/13/2026
FINANCED
Olayan Group Secures $800 Million Refinance From ING Capital For 550 Madison Avenue Office
550 Madison Avenue
See Similar DealsOffice685,125 SF
Financed 02/13/2026
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,167
Total Square Footage:685,125 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$800,000,000.00
Monthly NOI$5,333,333.33
Monthly Debt Service$5,056,544.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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