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NEW YORK CITY-Marsh & McLennan Cos. has obtained a $475-million mortgage financing of 1166 Ave. of Americas, a 1.7-million-sf office class A office building. Cushman & Wakefield's Investment Banking Group was the financial advisor and exclusive placement agent to Marsh & McLennan in the deal.Using its real estate asset as collateral, the firm was able to secure a 30-year, fixed-rate financing, says Michael Rotchford, executive managing director and head of Cushman & Wakefield's Investment Banking Group. The 44-story building, between 45th and 46th streets, serves as Marsh & McLennan's world headquarters. Lehman Brothers was the mortgage lender for the deal. According to C&W, Marsh & McLennan refinanced an existing mortgage at this time to take "advantage of the competitive market for New York class A central business district office properties, as well as historically low interest rates." As a result, the firm generated cash proceeds and lowered its cost of capital, C&W adds.Using real estate as collateral may be a growing trend. C&W officials, speaking at their third quarter market report update earlier this week, said that more corporate clients across the country are looking to see if their real estate assets are a cheaper or better choice than the bond markets for borrowing money.