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Brokerage
Posted: October 15, 2024
Cushman & Wakefield arranges $24 million in office acquisition financing for The Plant
Manhattan, NY According to Cushman & Wakefield, the firm’s Austin-based Equity Debt & Structured Finance (EDSF) team of Chase Johnson and Caleb Riebe has closed $24 million in acquisition financing for The Plant, a 246,343 s/f office building at 321 W. 44th St.
Cushman & Wakefield’s Johnson and Riebe sourced the loan via a life company lender.
The Plant is a renovated, office property that is currently 56% occupied by tenants including Broadway Dance Center, TagWall, AKA NYC Limited, Sony Records and Sunlight Studios.
“Securing this loan in such a challenging lending environment for office properties is a testament to our team’s dedication and expertise,” said Johnson, Cushman & Wakefield managing director. “We are thrilled to have played a role in the continued success of The Plant and look forward to its bright future with new ownership.”
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