Billionaire New York developer Jeff Sutton and Chicago-based General Growth Properties closed on their $1.78 billion acquisition of the Crown Building at 730 Fifth Avenue with a $1.25 billion mortgage provided by Deutsche Bank, Morgan Stanley, Goldman Sachs and Citigroup, Commercial Observer has learned.
The loan closed last Friday. Oxford Finance and another, unnamed, mezzanine lenders grabbed junior portions of the enormous debt deal, a source with intimate knowledge of the transaction said…
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