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Replacing Lehman Loan, 110 William St. Gets $162M Refi

NEW YORK CITY-A spokesman for Swig confirms to GlobeSt.com that the financing for the 900,000-square-foot building replaces the existing troubled loan from Lehman Brothers.

By Jacqueline Hlavenka | Updated on June 15, 2012

NEW YORK CITY-Swig Equities, LLC, the owner of Downtown staples such as 48 Wall St. and 5 Hanover Square, has refinanced 110 William St. in Lower Manhattan for $161.5 million, the real estate investment and management firm said on Friday. The company arranged the financing with Silverpeak Real Estate Partners, an asset manager for Longwing Real Estate Ventures, LLC, a member of New York-based private real estate investment Dubai Investment Group.

The financing was led by a $141.5 million first mortgage provided by UBS Real Estate Securities, Inc. and Barclays Capital, which is expected to be securitized in an upcoming CMBS transaction, according to Swig. In addition to the first mortgage loan, Pearlmark Real Estate Partners, LLC, provided a $20 million mezzanine loan through Pearlmark Mezzanine Realty Partners III, an investment fund with $427 million in capital commitments.

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