Contact Us
News

Deustche Loans CalPERS $780M For 787 Seventh Ave Acquisition

New York

Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!

Deustche Loans CalPERS $780M For 787 Seventh Ave Acquisition

Deutsche Bank has extended a $780M first mortgage to California pension fund CalPERS for its $1.9B acquisition of 787 Seventh Ave.

CalPERS bought the 54-story office tower from French life insurance firm AXA Financial on Jan. 27, according to public records reviewed by the Commercial Observer. AXA bought the building for $1.1B in June 2009.

Its tenants include law firm Sidley Austin, UBS and French bank BNP Paribas, as well as the 3,600 SF Pret A Manger that operates out of the ground floor.

AXA recently put both 787 Seventh Ave and the Equitable Building on the market, hoping to net roughly $4B for the properties. Douglas Harmon and Adam Spies of Eastdil Secured marketed the buildings. [CO]