REBusinessOnline

SAVANNA SECURES $45.75 MILLION OFFICE LOAN

NEW YORK CITY — New York City-based Savanna, along with a locally based hedge fund, has originated a $45.75 million full-recourse senior loan for a 150,622-square-foot office building located at 63 W. 38th St. in Midtown Manhattan, New York City. The loan for the 12-story, Class B property carries a 65 percent loan-to-value ratio. Meridian Capital Group advised the borrower, a private New Jersey-based investment firm.

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