Savanna Secures $510 Million Refinance For 5 Bryant Park Office Tower In Manhattan

The asset involved is an office property located at 5 Bryant Park in Manhattan. The transaction pertains to a refinance with a loan amount of $510 million, which was secured to retire a $463 million CMBS loan as well as to fund tenant improvements, a second-floor amenity center, and lease-up efforts.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $510,000,000
• Lender: Brian J. Higgins - King Street Capital Management & Doug Ostrover & Marc Lipschultz - Blue Owl Capital
• Landlord: Nicholas Bienstock & Christopher Schlank - Savanna
• Loan Type: Refinance

Key individuals involved in the transaction include Brian J. Higgins, representing King Street Capital Management, alongside Doug Ostrover and Marc Lipschultz from Blue Owl Capital. The landlord's representation includes Nicholas Bienstock and Christopher Schlank from Savanna.