Latham & Watkins Advises on US$228.9 Million Refinancing of Manhattan Office Landmark

Walker & Dunlop has announced that it arranged US$228.9 million in financing to refinance 295 Fifth Avenue, a newly redeveloped 707,181‑square‑foot Class A office tower in Manhattan’s Midtown South submarket. The floating‑rate, interest‑only bridge loan was provided by a joint venture between Rialto Capital Management LLC and Hines and refinances the historic property, which is leased to premier tenants including Bridgewater Associates and Quinn Emanuel.

Latham & Watkins LLP advised the lender in the transaction with a corporate team led by New York partner Michael Cromer, with associates Ana De Santiago Ayon, Yerin Yang, and Sahra Phillips. Advice was also provided on tax matters by Los Angeles partner Ana O’Brien, with associate Joyce Shin.