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Brookfield Property obtains $784M loan to refinance One Liberty Plaza

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Brookfield Property obtains $784M loan to refinance One Liberty Plaza

Brookfield Property Partners LP obtained a $784 million loan to refinance its One Liberty Plaza office tower in Lower Manhattan, N.Y., The Real Deal reported, citing property records.

Morgan Stanley reportedly provided the new financing, which replaces an $850 million existing loan from Goldman Sachs.

Brookfield expects the 54-story building, which spans 2.2 million square feet, to be 95%-occupied by the end of 2017. It just expanded the space occupied by insurance and risk management firm Aon to 237,000 square feet. The company also signed up Business Insider and cosmetics company New Avon, and New York City Economic Development Corp. has a pending lease for 220,000 square feet of space at the property.

Brookfield and Morgan Stanley representatives were not immediately available to comment on the matter, according to the publication.