The Kaufman Organization has refinanced its Madison Square Portfolio with a $120 million loan from Capital One.
Michael Kazmierski, principal and director of acquisitions, Kaufman New Ventures, along with Lorenzo Bakewell-Stone, associate, negotiated the three year first mortgage loan for the four Midtown South properties.
The Madison Square Portfolio is comprised of 13 West 27th Street, 45 West 27th Street, 19 West 24th Street and 119 West 24th Street.
“As the most active office investor in Midtown South over the last half-decade, this refinancing and increased loan reflects our value creation over the last few years in the now 100 percent leased portfolio,” said Kazmierski.
“We remain committed to furthering our investment in the Midtown South market while drawing dynamic office and retail tenants to the area.”
Morrison & Foerster, LLP represented Capital One in the transaction. Olshan Frome Wolosky, LLP acted on behalf of the borrower.