RFR Kicks off 2025 with Successful Refinancing and Leasing Transactions
"The new year heralded a series of successful transactions that showcase the quality of our assets, and our expertise in hands-on management, strategic leasing and reinvestment to increase value," said Aby Rosen. "We are steadfast in our deep commitment to our portfolio and look forward to new achievements and opportunities as the market continues to strengthen."
Seagram: RFR finalized a $1.2 billion commercial mortgage backed security that would help refinance debt tied to the Seagram Building, a 38-story tower on Park Avenue in Midtown Manhattan. In one of the largest successful recapitalizations of the year, Seagram secured a $1.2 billion commercial mortgage. Proceeds from the CMBS will be used to repay debt that RFR had taken out against the property, including a mezzanine loan from JVP Management.
17 State Street: RFR secured a 3-year loan extension to refinance 17 State, a 42-story trophy office tower in Lower Manhattan owned by RFR for 25 years. 17 State is a true skyline icon with its unmistakeable curvilinear façade. The property boasts permanently protected views of New York Harbor and beyond from the second to 42nd floors.
475 Fifth: RFR recapitalized 475 Fifth Avenue, a trophy office building facing New York's Bryant Park, with an equity recapitalization and a refinancing of the in-place loan with a new $160 million, 3-year mortgage from Citibank, JPMorgan, and Rithm Capital. One of only five Fifth Avenue assets with direct Bryant Park exposure, 475 Fifth Avenue is an architecturally significant pre-war building situated in a prominent corner location with six activated outdoor terraces overlooking Bryant Park, a newly renovated statement lobby designed by Swanke Hayden Connell, a curated public art program, and a detailed façade restored to its original turn-of-the-century elegance.
11 Bond: RFR signed a full-building lease with UK-based fitness apparel and accessories giant Gymshark at 11 Bond St. The direct-to-consumer (DTC) retailer of high-end workout gear will take 15,000 square feet on the corner of Bond Street and Lafayette Street in the heart of Manhattan's NoHo neighborhood for its first Americas brick and mortar retail location. The four-story landmarked space, with 100 feet of frontage on Bond Street, will serve as a Gymshark's flagship U.S. outpost.
About RFR
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past three decades. RFR's portfolio has grown to include more than 100 commercial, residential, hotel, and retail properties located in select domestic and international markets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250303097024/en/
Contacts
Great Ink Communications, Ltd. – 212-741-2977Roxanne Donovan (roxanne@greatink.com)Eric Waters (Eric.Waters@greatink.com)Sara Williams (sara@greatink.com)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Dundee University ‘fell well short', says interim boss in response to report
Previous management at the University of Dundee 'fell well short' of the standards expected of them, the interim boss has said in his response to a damning report. Former Glasgow Caledonian University principal Professor Pamela Gillies was asked to look into the culture, leadership and financial management at Dundee earlier this year after a £35 million black hole was discovered, leading the institution to consider cutting hundreds of jobs. The report found former principal Professor Iain Gillespie, who has since resigned, ex-interim principal Professor Shane O'Neill, and previous chief operating officer Jim McGeorge had acted as a 'triumvirate', making decisions amongst themselves, and it also questioned the quality of information about the university's finances given to other senior officials. In publishing the university's response to the report on Wednesday, interim principal Professor Nigel Seaton said: 'It was evident from the Gillies report that there had been clear failings in financial monitoring, leadership, and governance at the university. 'The entire UK higher education sector has been forced to deal with significant external factors in recent years but our university's response to these, and its management of finances, fell well short of the standards that everyone should have expected.' Dr Ian Mair, the acting chairman of the university court, said: 'The actions we propose to take in the short, medium and long term are designed to ensure the university has a sustainable future built upon strong governance, financial competence, transparency, and accountability. 'Our response provides detailed assurances to our stakeholders that the immediate, robust, and impactful action required to implement significant operational and cultural change is under way.' The response looked at the financial dealings of the university, its culture and governance, laying out short, medium and long-term actions to ensure its improvement. The appointment of a permanent principal, chief financial officer and chief operating officer could take up to 18 months, according to the response, which puts the hiring of the three roles in the 'longer term (12-18 months)' category. The replacement principal, the response said, must have 'experience of transformation and change and with a people-focused leadership style'. Prof Gillespie was criticised in the Gillies report for not consulting with staff, as well accusing him of 'hubris' in his leadership and being unable to take criticism. In the next six months, it is hoped a new chairman of the university court can be found, along with regular members of the body, including those with 'financial skills and experience'. The university said it will cancel or defer all 'non-essential capital projects' and use financial modelling to devise rolling five-year budget forecasts for key areas to get back on its feet financially. The response also pledged to listen more to staff and students, with a number of events already being planned to do so.
Yahoo
21 minutes ago
- Yahoo
SONA Unveils New Guide on Interior Design for Triangular and Sloped Windows
Innovative Solutions for Unique Window Designs Preston, Lancashire , Aug. 13, 2025 (GLOBE NEWSWIRE) -- SONA, a leader in the field of custom-built electric gable and apex blinds, has announced the release of an insightful new guide titled Top Interior Design Ideas for Triangular and Sloped Windows. This comprehensive guide, which can be found here: aims to simplify the often challenging task of designing around triangular and sloped windows, offering practical solutions and creative ideas for both trade professionals and retail - Triangle Blinds Triangular and sloped windows present unique opportunities and challenges in interior design. These architectural features can transform a space, adding character and a sense of openness. However, they also require specialized solutions to maximize their aesthetic and functional potential. SONA's new guide addresses these challenges head-on, providing readers with a wealth of information and inspiration. "Designing around triangular and sloped windows can be a daunting task for many," said Henry Barker, CEO of SONA. "Our new guide demystifies the process, offering clear and actionable advice that empowers our clients to make the most of these distinctive architectural elements." The guide covers a range of topics, including the selection of appropriate materials, color schemes, and the integration of automated blinds to enhance both privacy and energy efficiency. By leveraging the expertise of Sona in custom-built triangle window solutions, readers can explore innovative ways to incorporate these unique window designs into their spaces seamlessly. SONA's commitment to innovation and quality is evident in this latest offering. The guide not only serves as a valuable resource for those looking to enhance their interior spaces but also reinforces SONA's position as a trusted partner in the home decorating and automation industry. SonaAbout SONA SONA specialises in custom-built electric gable and apex blinds, helping trade and retail networks expand their offerings with an exclusive range of automated blinds. Press inquiries SONA Henry Barker press@ Unit 496 Holly Place,Walton Summit Centre,Preston, PR5 8AX, UK A video accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Leasing sector reports enhanced relationships with OEM partners: BVRLA
The British Vehicle Rental and Leasing Association (BVRLA) has released the findings from its annual Member OEM Relationship survey, indicating an enhancement in the relationship between leasing companies and their OEM [original equipment manufacturer] counterparts. The latest data from 2025 shows a slight rise in contentment levels, with the average satisfaction score reaching 7.1 out of a possible 10, up from the 6.6 recorded in 2024. The introduction of the Net Promoter Score (NPS) as a new metric has provided a more nuanced view of the industry's dynamics. The overall NPS stood at +3.7 across the 27 manufacturers assessed, with the leading five brands each garnering scores of 40 and above. However, the report also pointed out areas where relationships have deteriorated since 2024. Notably, leasing companies reported the 'biggest decline' in their satisfaction with access to vehicle data and the availability of connected services. BMW maintained its position as the best-performing OEM overall. The survey reached out to 64 BVRLA members and received responses from 44% of them, representing a diverse range of leasing operations. Participants were asked to limit their feedback to a maximum of 20 manufacturers, focusing on those with which they had substantial dealings. Speaking to Fleet News, BVRLA head of research and insight Phil Garthside said: 'Some OEMs are clearly setting the standard while others have an opportunity to improve by adopting best practices. 'The new entrants are working hard to get on leasing company radars, and it's paying off. They're not just adding variety to choice lists; they're competing on service and ease of doing business.' In January, the BVRLA reported a 1.4% growth in its leasing fleet for 2024. This increase has been largely driven by heightened interest in electric vehicles provided by companies. This growth has helped mitigate the impact of a decline in demand for personal lease agreements and vans, as detailed in the BVRLA's Leasing Outlook report. "Leasing sector reports enhanced relationships with OEM partners: BVRLA" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
