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Report: CIM lands $110M loan for acquisition of SL Green property

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Report: CIM lands $110M loan for acquisition of SL Green property

Barclays and Citigroup loaned $110 million to CIM Group for its $171 million acquisition of Brooklyn, N.Y.'s tallest office property at 16 Court St., The Real Deal reported, citing unnamed sources.

Private equity firm CIM completed the acquisition of the 317,600-square-foot downtown building Oct. 10 from SL Green Realty Corp.

The sale was agreed to in August, when SL Green said the property was 94% leased.

Barclays and Citigroup will securitize the 10-year fixed-rate loan into the commercial mortgage-backed securities market, the Oct. 12 report said, citing the unnamed sources.