According to the Financial Times, Tishman Speyer is aiming to raise $3.5 billion for refinancing debt on Rockefeller Center. The offering is being led by Bank of America and Wells Fargo.
The deal will take the form of a single-asset, single-borrower CMBS and discussions are underway with Canada Pension Plan Investment Board about participating in the transaction. Sources familiar with the matter say that both Tishman Speyer and potential lenders are confident in its success.
This deal is being closely monitored as an indicator for future financing deals involving other prestigious properties in Midtown Manhattan such as 200 Park Ave (also known as the MetLife Building), Brookfield’s Manhattan West complex, and properties within Hudson Yards zoning district.
Rockefeller Center, a historic Art Deco complex built in the 1930s, has been managed by Tishman Speyer for many years. This news was originally reported by FT via sources close to this matter.
