(To read more on the debt and equity markets, click here.)

DALLAS-Los Angeles-based Metropolitan Real Estate Investors LLC has obtained a $200-million, 10-year first mortgage loan from an undisclosed lender to finance its $216-million acquisition of the 60-story, 87%-leased Downtown Bank One Center office building at 1717 Main St. GlobeSt.com reported the sale Dec. 15.

In a prepared statement, Howard Michaels, chairman of New York City-based Carlton Advisory Services, says his firm placed the senior financing with "a major investment bank at an extremely competitive spread, generous interest-only period and with a tenant improvement and leasing commission facility."

Through a company representative, Michaels tells GlobeSt.com the financing was completed 30 days before the deal closed Dec. 14. Metropolitan principals Haim Revah and Jacob Abikzer had no trouble finding a lender. "There were multiple bidders for the financing," Michaels says.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.