Silverstein Properties has closed on a $457.5 million refinancing at 7 World Trade Center, its LEED Gold office tower in Downtown Manhattan.
The refi comes with serious tax advantages: Tax-exempt bonds make up $449 million of the loan — 98 percent of it. The 52-story building’s construction in the early 2000s was financed through federal, tax-free Liberty Bonds issued in the wake of the 9/11 attacks.
Goldman Sachs led the deal, which was executed in green bonds, a type of financing for projects with environmental benefits. Silverstein has long promoted 7 World Trade’s eco-minded bells and whistles.
“Through its refinancing carried out in green bonds, 7 World Trade Center continues to serve as a blueprint for sustainable development,” said Marty Burger, chief executive officer of Silverstein Properties.
Silverstein refinanced to take advantage of favorable interest rates and strong leasing performance, said Dara McQuillan, a spokesperson for the developer.
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The developer also announced four lease signings at the building, including two new deals totaling 45,400 square feet. Capstone, an alternative investor, secured 40,000 square feet. Tenants at the 1.7-million-square-foot tower include Moody’s, Moët Hennessy and Zola.
The building, at 250 Greenwich Street, is now 97 percent leased. Designed by David Childs of Skidmore, Owings & Merrill, it stands 741 feet tall and opened in 2006.