$550M Loan Earmarked for Brookfield NYC Asset

By Keith Loria, Contributing Editor

New York—Brookfield Property Partners has received a $550 million senior loan to refinance 200 Liberty St., a 1.7 million-square-foot, Class A office building located in New York City.

200 Liberty St. in NYC

Civitas Capital Group arranged the financing through Kiwoom Milestone US Debt Professional Private Real Estate Trust 2, which comprises 11 institutional investors from South Korea, led by NongHyup Property & Casualty Insurance and Kiwoom Asset Management.

“200 Liberty is a premier Lower Manhattan office property, and we are extremely pleased to have provided financing for such a tremendous asset,” David Lee, Civitas’ director of investments, said in a prepared release. “We are proud to have collaborated with such an exceptional group of institutional investors to get the deal done.”

The 200 Liberty building has 40 stories with the first two floors serving as retail space, occupying 52,000 square feet of the building. The tower is LEED Gold certified. Originally completed in 1986, and once known as One World Financial Center, the property has undergone renovations in both 2002 and 2014.

The 200 Liberty closing comes not long after Civitas’ acquisition of KPMG Plaza, a 500,000-square-foot office building in downtown Dallas, in a joint venture with Kiwoom, NH and other South Korean institutional partners.

“Our investment of time and effort in developing deep client relationships in South Korea continues to bear fruit,” Dan Healy, Civitas Capital Group’s CEO, said in the release. “We are proud to partner with such distinguished investors and look forward to pursuing additional opportunities together in the future.”