Oxford, Canadian fund record $368M in construction debt as part of $973M loan

Oxford Properties Group and the Canadian Pension Plan Investment Board through the entity 550 Washington Owner (De) LLC as borrower signed a loan agreement with lender Wells Fargo Bank valued at $368.4 million for 1 parcel, including the tax class commercial condo recorded in Acris (CC) at 550 Washington Street in Soho. The deal closed on September 18, 2020 and was recorded on October 13, 2020.

The new debt is a building loan and a project loan. The total debt is now $972.6 million. Oxford and the Canadian pension fund were seeking the construction loan in January, the Commercial Observer reported. The last time the property sold was January 31, 2018, for $700,000,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link