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Walker & Dunlop Capital Markets Institutional Advisory recently arranged a $407.5 million loan to refinance 450 Lexington Avenue, a 40-story Class A office tower in the Grand Central Submarket of New York City.
Led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Michael Brown, Christopher de Raet, and Jack Krentzman, the team arranged the transaction on behalf of RXR, PSP Investments | Investissements PSP, and institutional investors advised by J.P. Morgan Asset Management, and arranged the commercial mortgage-backed securities (CMBS) single-asset, single-borrower (SASB), floating-rate, interest only financing from Morgan Stanley and Bank of America.