SL Green Realty has received a new $500 million loan for a tower located in New York. The new mortgage, which was initiated jointly by Metropolitan Life Insurance and Pacific Life Insurance, carries a fixed interest rate of 5.116% and matures in 2023.
The new refinancing will replace the 10 year $250 million loan, which was set to mature in August 2011. The arranger of refinancing on behalf of the joint venture was Holliday Fenoglio Fowler. SL Green owns the tower in partnership with the New York State Teachers Retirement System.
