Berkadia has secured a $268.7 million loan for 20 Exchange Place, on behalf of DTH Capital. New York office managing director Nick Cassino arranged the 10-year, fixed-rate loan through Freddie Mac on behalf of the borrower. The 86-year-old property was originally built to house the headquarters of City Bank-Farmers Trust, the predecessor CitiBank. Today, the 57-story mixed use building has 767 apartments and 90,000 sqf of retail space. The loan, which was closed January 9, was used to refinance the property’s existing debt. Berkadia is a joint venture of Berkshire Hathaway and Leucadia National Corporation.
“Berkadia’s strong partnership with Freddie Mac and commitment to building a bench of deep professional and industry expertise allows us to provide customized solutions for our client’s commercial real estate needs,” said Cassino. “Ackman-Ziff and DTH Capital were aware of the offerings we could provide and our ability to structure competitive loan terms with Freddie Mac was an important factor in successfully closing this transaction.”
