Real estate company RFR Holding Corp. has obtained refinancing of $115 million for its asset, the Carlyle Galleries Building, GlobeSt reports. Acting exclusively for RFR, HFF arranged the adjustable-rate loan from RBC Capital Markets. The new debt is being used to refinance a loan that has become due and to fund a strategic leasing and business plan.
The six-story mixed-use property at 980 Madison Avenue in New York houses Gagosian Gallery, Insigna Douglas Elliman, Art Capital Group and Fidelity Investments. HFF is a leading commercial real estate capital intermediary.
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