Commercial Observer: HGI Seals CBS Building Buy With $558M CMBS Financing

Deutsche Bank, Goldman Sachs and Brookfield are providing the debt.

“The address is CBS” was once the television network’s slogan. Now, the CBS Building’s location at 51 West 52nd Street is also the address of the latest mega-office financing to close in New York City. 

Harbor Group International (HGI) just closed on its $760 million acquisition of the trophy office property — also known as Black Rock — with a $558 million commercial mortgage-backed securities (CMBS) financing, sources close to the transaction told Commercial Observer. 

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About HGI

Harbor Group International (HGI) is a leading global real estate investment and management firm. With $20 billion1 in real estate investment properties, the firm invests in and manages diversified property portfolios including office, retail, and multifamily properties. With over 38 years of experience in the industry and approximately 1,400 employees worldwide, HGI continues to look for real estate investment opportunities.

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Harbor Group International controls $20 billion1 in real estate investments and is constantly exploring real estate investment opportunities in the worldwide market.