568 Broadway Refinancing Secures $216M for SoHo Property
The latest 568 Broadway refinancing brings $216 million in bridge financing to an established office-and-retail property in Manhattan’s SoHo neighborhood.
Walker & Dunlop announced the transaction on October 14. ACORE Capital provided the loan to a joint venture of Aurora Capital, Allied Partners and A&H Acquisitions.
The 12-story property totals 390,745 square feet and stands at the corner of Broadway and Prince Street, combining office space with street-level retail in one of Manhattan’s best-known shopping districts.
Considering a New York real estate-backed EB-5 investment? Speak with the iCross × ARCFE team about available opportunities and the factors to review.
Leasing Fundamentals Behind the 568 Broadway Refinancing
The announcement reports that the approximately 70,870-square-foot retail component is 100% leased, with tenants including Hugo Boss, GU and Equinox. Office tenants include Zocdoc and The Farmer’s Dog.
In ARCFE’s view, leased retail space and a mix of office tenants give lenders concrete operating information to assess. Our earlier coverage of Acadia’s SoHo property investment offers another perspective on institutional capital in the neighborhood.
EB-5 Investor Insight
For EB-5 investors, confirm which part of a property an occupancy figure describes, then compare lease expirations with the investment’s repayment timeline. This makes a financing headline more useful when assessing the underlying asset.
ARCFE View
Founded by iCross Capital, a New York City real estate credit institution with nearly 20 years of experience, ARCFE examines how office and retail income streams complement each other and whether the leasing profile supports the financing period.
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Recent ARCFE EB-5 Principal Repayment Highlights
Explore ARCFE’s latest EB-5 principal repayment milestones across pre-RIA and post-RIA projects. Click any image below to read the full project update.
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Related ARCFE Resources
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Disclaimer: Articles published under the "NYC Real Estate" category are curated from third-party media sources for informational purposes only. ARCFE does not claim ownership of the original content, nor does it guarantee the accuracy, completeness, or timeliness of the information presented. The views and opinions expressed in these articles are those of the original authors and do not necessarily reflect the position of ARCFE. Nothing contained herein constitutes investment, legal, or tax advice. Readers are encouraged to consult with qualified professionals before making any investment decisions.
