CIM Group scores $360M loan for acquisition of 1440 Broadway Los Angeles-based firm bought the property from NY REIT for $520M
CIM Group s Shaul Kuba and 1440 Broadway
Los Angeles-based CIM Group landed a $360 million loan to close on its $520 million purchase of 1440 Broadway, one of the last buildings in the dwindling New York REIT portfolio.
The Blackstone Group provided the financing to CIM Group. The deal closed on Tuesday, and the floating-rate debt has a five-year term, the Commercial Observer reported. The loan was made at a 60 percent loan-to-cost. The Real Deal first reported news of the building going into 上海贵族宝贝论坛