Real Estate Weekly
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Debt & Equity

Thor, Wharton refinance trio of Soho buildings with $300M loan

Wharton Properties and Thor Equities have refinanced a trio of Soho buildings with a $305 million loan from Morgan Stanley.

JLL’s Capital Markets arranged the three-year, non-recourse floating-rate loan to refinance 530-536 Broadway, three adjoining mixed-use buildings.

Vice Chairman Aaron Appel, Executive Vice President Michael Diaz, and Vice Presidents David Sitt and Eliott Zeitoune led the financing team representing the borrowers,


“This asset has a very strong, experienced and well-capitalized sponsorship and also benefits from an unrivaled location in one of the city’s most dynamic live-work-play neighborhoods, all of which made it an appealing financing opportunity for a broad range of lenders,” said Appel.

The financing covers 530 and 536 Broadway, two 10-story buildings, and 532 Broadway, an 11-story building.

The buildings have a combined total of 201,224 s/f of rentable space. The ground floor retail space, totaling 24,132 s/f, is fully leased to tenants including Skechers and Club Monaco.

The office space, totaling 177,092 s/f, is occupied by tenants that include flexible office start-up, Knotel.

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