### RFR Completes $1.2B CMBS Refinancing of Seagram Building
In one of the largest successful recapitalizations of the year, RFR has secured a $1.2 billion securitization to refinance debt tied to the iconic Seagram Building at 375 Park Avenue in Midtown Manhattan. Proceeds from the commercial mortgage-backed securities (CMBS) will be used to repay existing debt on the property, including a mezzanine loan from JVP Management, the company announced.
This transaction is one of three recent refinancings completed by RFR. The company also secured a three-year loan extension to refinance 17 State Street in Lower Manhattan. Additionally, it recapitalized 475 Fifth Avenue, a premier office building facing Bryant Park, through an equity recapitalization and a new $160 million, three-year mortgage from Citibank, JPMorgan, and Rithm Capital.
“We are steadfast in our deep commitment to our portfolio and look forward to new achievements and opportunities as the market continues to strengthen,” said RFR cofounder Aby Rosen.
