REBusinessOnline

SAVANNA ARRANGES $45.75 MILLION OFFICE LOAN

NEW YORK CITY — New York City-based Savanna, along with a locally based hedge fund, has originated $45.75 million in full-recourse senior financing for 63 West 38th Street, a 12-story, Class B office building located in New York City. The first-mortgage financing for the 150,622-square-foot property carries a 65 percent loan-to-value ratio. The New Jersey-based borrower was advised by Meridian Capital Group.

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