Brookfield Completes $1.25 Billion Refinancing of Five Manhattan West

Executive Summary

• Brookfield Corporation completed a $1.25 billion, five‑year, 6.0% fixed‑rate refinancing of the Five Manhattan West office tower.
• The loan was syndicated by Citigroup, Deutsche Bank, Société Générale, Bank of Montreal and JPMorgan Chase.
• The refinancing underscores Brookfield’s strong financing activity this year—over $28 billion executed across its global real estate portfolio—and adds to a $350 million redevelopment completed in 2017.

Key Details

• Financing amount: $1.25 billion.
• Term & rate: Five‑year loan at a fixed 6.0% interest rate.
• Lenders/syndicate members: Citigroup, Deutsche Bank, Société Générale, Bank of Montreal, JPMorgan Chase.
• Asset refinanced: Five Manhattan West, a 1.7 million‑sq‑ft office tower in Manhattan West, fully leased to tenants such as JP Morgan Chase, Amazon, Peloton and Whole Foods.
• Previous redevelopment: $350 million renovation completed in 2017 (new curtainwall façade, lobby, mechanical systems, amenities).
• Brookfield’s financing activity YTD: >$28 billion of financing across its global real estate portfolio; $15 billion in realizations to date.
• Strategic significance: Provides a “clear vote of confidence” in the asset and supports Brookfield’s broader Manhattan West campus development, which includes three office towers, residential, hotel, retail and public spaces.

Notable Quotes

“Five Manhattan West’s refinancing is a clear vote of confidence in both the asset and the vision behind the Manhattan West campus,” – Brian Kingston, Executive Chair, Brookfield Real Estate.
“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.” – Brian Kingston.