Natixis Provides $81.5 Million of Floating-Rate Financing on 40 Exchange Place
Natixis Real Estate Capital LLC originated an $81.5 million floating-rate loan collateralized by 40 Exchange Place.
The property is a 20-story 293,409 sf Class B office building with ground floor retail. The property is located at the southwest corner of Exchange Place and William Street in Manhattan’s Financial District. Acquisition financing was provided to a joint venture between Newmark Holdings and Northwind Group. The property was built in 1902 and features a floor plan ideal for small tenants. In addition to financing the acquisition, loan proceeds will be used to reposition the property, finance a capital improvement program, and lease-up the building.