SL GREEN REFINANCES 100 PARK AVENUE
NEW YORK CITY — SL Green Realty Corp. has closed on a $215 million loan for the refinancing of 100 Park Avenue in Manhattan, New York City. The loan carries a 5-year term with two 1-year extension options and a 6.64 percent fixed interest rate. The proceeds will be used to retire the property's existing $175 million mortgage as well as complete a $72 million renovation of the property that began in 2007. The lender was a group of banks that includes DekaBank, Helaba, PB Capital Corp., Westdeutsche ImmobilienBank AG and Modern Bank. SL Green owns 100 Park Avenue in a joint venture with institutional investors advised by Prudential Real Estate Investors. The tower totals 36 stories and 825,815 square feet.