Global Holdings Lands $382M Refi for Midtown Tower
Private equity firm Global Holdings has secured a $382.4 million refinancing loan for its Midtown Manhattan office tower at 120 Park Ave., with Wells Fargo and German bank LBBW originating the note. The funding, reported by The Real Deal, retires the property’s existing $335 million loan from HSBC.
The recapitalization follows Bloomberg LP’s renewal in late 2025 of its 495,753-square-foot lease across 20 floors of the Class A building, marking one of the city’s largest lease deals of the year. Bloomberg’s lease, which was extended to 2024, accounts for roughly 80% of the property’s rentable area. Global Holdings acquired the 620,000-square-foot building neighboring Grand Central Terminal from Altria Group in 2008. The refinancing will facilitate a capital improvement program for the asset, which was built in 1981.
Chaired by Eyal Ofer, Global Holdings has an international real estate portfolio spanning more than 10 million square feet of real estate, including 120 properties and over 1,500 hotel rooms.
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