Sherwood Equities has locked up a combined $232 million to refinance two buildings in Times Square in New York City. The assets used for the financing are 1600 Broadway ($164 million) and 2 Times Square ($68 million). 2 Times Square is a 233,285 sqf building, home to the 310-key Renaissance New York Times Square Hotel, as well as retail space and advertising billboards. 1600 Broadway is a 160,000 sqf building with retail space leased to the M&M’s Store and by two Budweiser signs, the upper floors of the building house 137 luxury condominiums. German bank Helaba funded the loans with a 10-year term at a fixed rate.
