![\"Placeholder\"\/](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/placeholder.png\")
<\/p>\nAn office tower in one of Manhattan\u2019s busiest neighborhoods has netted a major CMBS refinancing deal.<\/p>\n
<\/p>\n
\n Deutsche Bank Center\n <\/p>\n
The owners of Deutsche Bank Center are expected to close a $1.1B refinancing deal at the end of the month, according to a new report<\/a>\u00a0from Fitch Ratings<\/a>.<\/p>\n The CMBS loan refinances existing debt on the 1.1M SF office tower at 60 Columbus Circle\u00a0and will be used to pay closing-related costs totaling approximately $10M. The new floating-rate, interest-only financing has a two-year term with three one-year extension options.<\/p>\n Fitch said the loan represents 66.7% of an appraised value of $1.65B.<\/p>\n The funding will be co-originated by German American Capital Corp. and\u00a0Wells Fargo Bank<\/a>, which will act as mortgage loan sellers.<\/p>\n Deutsche Bank<\/a> is the anchor tenant, occupying 93.5% of the property on\u00a0a 20-year lease that started in 2021, with another 20-year renewal option, per Fitch.<\/p>\n The sponsor is a joint venture of affiliates of The Related Cos<\/a>. and two sovereign wealth funds, the Government of Singapore Investment Corp. and the Abu Dhabi Investment Authority<\/a>.<\/p>\n Related\u2019s affiliates own roughly a 3% interest, while affiliates of GIC<\/a> and ADIA own 48.1% each.<\/p>\n Related, GIC and ADIA didn\u2019t immediately respond to requests for comment.<\/p>\n The property, which Fitch says is now 100% occupied, was previously known as the Time Warner Center<\/a> but was renamed in 2018 after the media company moved to Hudson Yards<\/a> and Deutsche Bank struck a deal to move its HQ.<\/p>\n The tower sits within the broader 2.8M SF mixed-use Deutsche Bank Center.<\/p>\n The new loan is expected to close Oct. 29.<\/p>\n A\u00a0$1.5B single-asset, single-borrower commercial bond deal, lined up with the same sponsors,\u00a0fell apart in 2022<\/a> over bond investor concerns about<\/a> market weakness and volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"An office tower in one of Manhattan\u2019s busiest neighborhoods has netted a major CMBS refinancing deal. Deutsche Bank…\n","protected":false},"author":2,"featured_media":7883,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[6981,6984,4317,6985,6982,75,84,83,6979,9,24,63,6980,6983,6978],"class_list":{"0":"post-7882","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-manhattan","8":"tag-abu-dhabi-investment-authority","9":"tag-adia","10":"tag-cmbs","11":"tag-deutsche-bank-center","12":"tag-gic","13":"tag-manhattan","14":"tag-manhattan-headlines","15":"tag-manhattan-news","16":"tag-manhattan-office","17":"tag-new-york","18":"tag-new-york-city","19":"tag-nyc","20":"tag-related-cos","21":"tag-sovereign-wealth-fund","22":"tag-time-warner-center"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/7882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=7882"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/7882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/7883"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=7882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=7882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=7882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}