Westbrook Partners has closed on the $230 million refinance of the firm’s building at 1375 Broadway office in New York city’s Garment District. The loan for the 513,000 square foot asset was supplied by Credit Agricole. The funding replaces a $180 million loan the French bank had previously lent Westbrook in May 2015 when the private equity firm bought the building from Savanna for $310 million. The new financing raises the debt-to-cost ratio from 58 percent to slightly more than 74 percent.
