Brookfield Office Properties has secured $1 billion in financing for its Brookfield Place megaproject, the company announced in a release yesterday.
The real estate investment trust received financing for the 2.5 million-square-foot 2 Brookfield Place at 225 Liberty Street and the 1.8 million-square-foot 4 Brookfield Place at 250 Vesey Street. A group of banks led by Deutsche Bank, Royal Bank of Canada, Citibank, Bank of America and Wells Fargo made an initial commitment of $800 million for the projects, and Brookfield has the option to draw an additional $200 million.
Brookfield, which is Lower Manhattan’s largest commercial landlord, is looking to bring law firm Jones Day to 4 Brookfield Place. Brookfield also recently signed regulatory firm the National Futures Organization to its 50-story tower at 1 New York Plaza, as The Real Deal reported. [Press Release via Seeking Alpha] –Hiten Samtani