NEW YORK CITY-Natixis Real Estate Capital LLC has announced it provided a $55 million floating-rate loan to Real Estate Equities Corp. and Mount Kellet Capital Management for the acquisition of a five- story, mixed-use office and retail property located in SoHo. GlobeSt.com has confirmed the building is 375 Broadway. As previously reported, the 57,800 square foot structure was purchased for $81 million by REEC—in a joint venture—earlier this month.
The building was constructed in 1870 and is 100% leased to seven tenants. The retail component, consisting of 11,200 square feet, is leased to long-term anchor tenant and national retailer Anthropologie. Owned by Urban Outfitters, Inc., Anthropologie has been at the location since 1996, their first in New York City. The store is considered the brand's flagship.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
