Brookfield completes $1.25B refi of Five Manhattan West

Mr. Brian Kingston reports BROOKFIELD COMPLETES $1.25 BILLION REFINANCING OF FIVE MANHATTAN WEST Brookfield Corp. has completed a $1.25-billion refinancing of Five Manhattan West, a 1.7-million-square-foot trophy office tower within its Manhattan West development. The five-year, 6.0-per-cent fixed-rate loan was provided by a syndicate of leading financial institutions, including Citigroup, Deutsche Bank, Societe Generale, Bank of Montreal and JP Morgan Chase. Year to date, Brookfield has executed more than $28-billion of financing across its global real estate portfolio. Five Manhattan West underwent a comprehensive $350-million redevelopment completed in 2017, which modernized the property with a new glass curtainwall facade, lobby, mechanical systems and amenities. The building is fully leased to a diverse roster of global companies across financial services, technology, media and retail, including JP Morgan Chase, Amazon, Peloton and Whole Foods. "Five Manhattan West's refinancing is a clear vote of confidence in both the asset and the vision behind the Manhattan West campus," said Brian Kingston, executive chair of Brookfield's real estate business. "It also builds upon the very strong year we've had across our global real estate business -- completing more than $28-billion in financings and $15-billion in realizations to date -- demonstrating our ability to deliver value throughout market cycles." The mixed-use Manhattan West campus includes three trophy office towers -- One, Two and Five Manhattan West -- alongside a curated mix of dining and retail tenants, a luxury residential tower, boutique hotel and 2.5-acre public plaza. About Brookfield Corp. Brookfield is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. The company has three core businesses: alternative asset management, wealth solutions and its operating businesses, which are in renewable power, infrastructure, business and industrial services, and real estate. The company has a record of delivering 15-plus-per-cent annualized returns to shareholders for over 30 years, supported by the company's unrivalled investment and operational experience. Brookfield's conservatively managed balance sheet, extensive operational experience and global sourcing networks allow the company to consistently access unique opportunities. At the centre of the company's success is the Brookfield ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield is publicly traded in New York and Toronto (New York Stock Exchange: BN, Toronto Stock Exchange: BN).