Last year Westbrook Partners acquired 1375 Broadway, a 510,000-square-foot office building for $310 million. That property was repositioned by the seller Savanna prior to the sale.

NEW YORK CITY— Westbrook Partners has refinanced its loft-style office building at 31 West 27^th St. here through TD Bank, N.A. after completing an extensive repositioning at the Midtown South property.

The $69-million refinancing deal was arranged by noted hotel brokerage firm Hodges Ward Elliott, which recently ventured into investment sales involving other asset classes and opened an office last summer in New York City at 1140 Ave. of the Americas.

HWE officials state that the financing it helped Westbrook secure will allow the owner to complete its strategic business plan for the 12-story, 144,00-square-foot office building and continue to capture the substantial demand for tenants in the area.

“31 West 27th Street has been positioned to take advantage of the continued demand for well-located, improved office assets in Midtown South,” says Will Silverman, managing director of HWE. “Our knowledge of the asset and the Midtown South market enabled us to help the owner maximize the value of its investment.”

Last year Westbrook Partners acquired 1375 Broadway, a 510,000-square-foot office building for $310 million. That property was repositioned by the seller Savanna prior to the sale.