NEW YORK CITY—DTH has secured a nearly $269 million financing of 20 Exchange Pl., a high-end luxury residence building. The loan was used to refinance existing debt on the property.

Berkadia managing director Nick Cassino arranged the 10-year, fixed-rate loan through Freddie Mac on behalf of DTH Capital, based here. Ackman-Ziff Real Estate Capital Advisors was the exclusive broker for DTH Capital on the transaction.

“This was a highly structured, complex deal,” says Cassino. “Freddie Mac, Ackman-Ziff and DTH Capital all collaborated with Berkadia to work through the issues to structure a loan that was a win-win for everyone.”

DTH previously took out a $240 construction loan on the property in 2014. The financing was provided by Natixis Real Estate Capital and the borrower was advised in the transaction by the law firm of Hunton & Williams.

Completed in 1931, the property was originally constructed as the headquarters for City Bank-Farmers Trust, one of the largest banks in the United States at the time and predecessor to what would later transform into one of the largest banking institutions, Citibank.

At its completion, the property was New York City's fourth tallest building and remains the tallest building south of Wall Street. Today, 20 Exchange is a 57-story, 767-unit luxury apartment building with 90,000 additional square feet of retail space.

NEW YORK CITY—DTH has secured a nearly $269 million financing of 20 Exchange Pl., a high-end luxury residence building. The loan was used to refinance existing debt on the property.

Berkadia managing director Nick Cassino arranged the 10-year, fixed-rate loan through Freddie Mac on behalf of DTH Capital, based here. Ackman-Ziff Real Estate Capital Advisors was the exclusive broker for DTH Capital on the transaction.

“This was a highly structured, complex deal,” says Cassino. “Freddie Mac, Ackman-Ziff and DTH Capital all collaborated with Berkadia to work through the issues to structure a loan that was a win-win for everyone.”

DTH previously took out a $240 construction loan on the property in 2014. The financing was provided by Natixis Real Estate Capital and the borrower was advised in the transaction by the law firm of Hunton & Williams.

Completed in 1931, the property was originally constructed as the headquarters for City Bank-Farmers Trust, one of the largest banks in the United States at the time and predecessor to what would later transform into one of the largest banking institutions, Citibank.

At its completion, the property was New York City's fourth tallest building and remains the tallest building south of Wall Street. Today, 20 Exchange is a 57-story, 767-unit luxury apartment building with 90,000 additional square feet of retail space.