| This isn't the same building as the first story, though both required us to crane our necks to snap them. Owners of Centennial Tower just refinanced a $45M loan serviced by ING Clarion after 18 months of negotiations. Efforts by the landlord, Jackson Oats Shaw, to refinance were buoyed by recent leasing success—180K SF in the past 18 months. And Jackson Oats Shaw's Jeff Shaw says the tower is seen as a stabilized asset. The parties came to terms during Q1 this year. Specific terms of the refinancing weren't disclosed as of press time. The loan extension opens up more opportunities for the firm to investigate additional refinance options as the capital markets recover. |
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