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2/12/15
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In a major office refi deal, Newmark Realty Capital Inc. has arranged $125 mil in permanent financing on 1900 Avenue of the Stars, a 28-story, 597k sf, Class A office tower in Century City. Constructed in 1969, the property is a trophy asset with a strong line-up of F.I.R.E. (Finance, Insurance, Real Estate) and legal tenants.
George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest-only for the entire loan term. Mitsanas has financed this property for the borrower twice before.
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