Brookfield secures $1.15bn refinancing for 5 Manhattan West offices

Brookfield Property Partners, along with its partner Qatar Investment Authority, secured $1.15bn in refinancing for its 5 Manhattan West office building. The funding, granted by Landesbank Baden-Wurttemberg, will be used to replace the current $570m loan from Wells Fargo. Brookfield recently completed a $350m redevelopment of the 2.2 million sq ft building, which sits at 10th Avenue between 31st and 33rd streets. Anchor tenants include JPMorgan Chase, which occupies 425,000 sq ft, and Amazon, which recently inked a 360,000 sq ft lease.