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CMA
July 13, 2018  

Pension to Finance Expanded Tower

New York Common Fund is seeking to borrow as much as $700 million on a Midtown Manhattan office tower that’s near the end of a massive redevelopment.The pension system’s broker, HFF, is taking proposals for a long-term, fixed-rate loan on the 932,000-square-foot building, at 390 Madison Avenue, a few blocks north of Grand Central Terminal.The size of the mortgage is expected to range from $600 million to $700 million. That would be...


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