Mainz, 14 January 2011: WestImmo together with M & T Bank as co-lenders, closed on a 5-year, $ 65 M senior refinancing loan for 160 Fifth Avenue, a 9-story, 139,487 sqf LEED certified office building with ground floor retail space located in the Flatiron District of Manhattan, New York.

Between 2007 and 2009 the property underwent a gut renovation bringing finishes in the building to class A standards. At close the property was approximately 89% leased occupied with Club Monaco, a men’s and women’s fashion line, occupying part of the ground floor retail space.

WestImmo, as Arranger, Administrative Agent / Syndication Agent, and M&T each provided $ 32.5 M at close to RFR Holding, LLC, who have owned and managed the building since 2005.

Notes to Editors:

Westdeutsche ImmobilienBank AG (WestImmo) is one of Germany's leading commercial real estate financers and maintains a strong presence in the Western, Central and Eastern European markets, as well as in North America and Asia. WestImmo's corporate customers include global institutional investors, international developers and companies operating in the real estate sector. With 480 employees and total assets of approx. € 26 bn, WestImmo is a strong and competent partner in all real estate transactions and financing activities.