SL Green Snaps Up $224M Loan on RFR’s 522 Fifth Avenue

SL Green Buys Debt On RFR’s Vacant Fifth Avenue Tower, Plans Partnership

As RFR Holding’s troubles in the New York City office market unfold, another big name has seized the opportunity to grab a piece of the embattled landlord's valuable portfolio. SL Green Realty has bought the $224M senior loan backed by RFR’s 522 Fifth Ave., a vacant 23-story office tower, Commercial Observer reports. But SL Green reportedly isn't planning to take over the building. Instead, it plans to work with RFR to renovate the property toge…

SL Green Snaps Up $224M Loan on RFR’s 522 Fifth Avenue

SL Green Realty has purchased the $224 million senior loan on RFR Holding’s 23-story office property at 522 Fifth Avenue, Commercial Observer can first report.  The exact purchase price for the floating-rate, senior note couldn’t be gleaned, but sources familiar with the deal said it traded “at a discount.”  A Newmark (NMRK) team led by Adam Spies, Joshua King, Douglas Harmon, Marcella Fasulo, Adam Doneger and Willis Robbins led the note sale on…