HFF Closes $35M Mezzanine Loan for Mutual Life

The property consists of 1.2 million square feet of Class A office space in Midtown Manhattan, occupying an entire block.

September 30, 2010
By Allison Landa, News Editor

Holliday Fenoglio Fowler’s New York office has obtained a $35 million mezzanine loan on one of New York’s trophy properties. The loan, which was closed on behalf of Mutual Life Insurance Co. of New York, is secured by an ownership interest in 280 Park Avenue.

Mutual is a subsidiary of AXA Equitable Life Insurance Co.

The property consists of 1.2 million square feet of Class A office space in Midtown Manhattan, occupying an entire western block between 48th and 49th Streets. It is 96 percent leased to tenants including General Electric Capital Corp., Credit Suisse, Deutsche Bank and the National Football League.

HFF operates about of 17 offices nationwide, offering services including debt placement, investment sales and advisory sales.