Global Holdings secures $450 million refinancing for Nomad Tower
Manhattan, NY Global Holdings has secured a $450 million refinancing for 1250 Bdwy., branded as Nomad Tower, its 39-story, LEED Platinum-certified office tower located in the heart of NoMad in Midtown South.
Wells Fargo originated the three-year, fixed-rate loan, which was structured as a Green Bond in alignment with Green Bond Principles. Eastdil Secured served as the advisor on the transaction. Proceeds will retire existing debt.
“Across our New York City portfolio, we have invested significant capital since the 1980s to create assets characterized by elevated design, modernized infrastructure, and hospitality-driven amenities.” said Eyal Ofer, chairman of Global Holdings. “These buildings often help define and reinforce their surrounding neighbourhoods, and Nomad Tower - 1250 Broadway is a prime example, where this comprehensive approach has attracted top-tier tenants and strengthened demand in the NoMad submarket. Alongside recent refinancings at Anagram Columbus Circle and 888 Broadway, this transaction further underscores lender confidence in our platform and supports our continued delivery of best-in-class office space.”
Located in the heart of Nomad north of Madison Square Park, Nomad Tower is a glass-and-steel tower that encompasses an entire block front on Bdwy. between 31st and 32nd Sts. Designed by Shreve Lamb & Harmon and built to the highest institutional standards, the building offers large, flexible floor plates with unmatched views on the tower floors. The property is currently 95.1% leased to a diversified roster of 29 office and retail tenants, including Zillow, TransPerfect, Gunderson Dettmer, Magnite, and Varonis.
Since acquiring the property in 2016, Global Holdings has invested nearly $140 million in capital improvements, including a comprehensive lobby and amenity renovation, infrastructure upgrades, and extensive tenant improvements. The repositioning elevated the building to LEED Platinum certification and established Nomad Tower - 1250 Broadway as a premier, amenitized office destination in Midtown South and NoMad.
The refinancing follows a series of significant capital markets transactions for the firm, including the $130.5 million refinancing of 888 Bdwy., the $190 million refinancing of Anagram Columbus Circle, and the $28 million refinancing of Anagram Gramercy.