Spiral Tower in Hudson Yards Eyes $2.7 Billion Bond Refinancing

The partnership of Tishman Speyer and Henry Crown is returning to the bond market to refinance the Spiral office tower in Hudson Yards, less than three months after wrapping up the biggest commercial mortgage backed securities deal in years.

The sale of a $2.65 billion in bonds backed by the mortgage on the trophy property is expected to wrap up later this week, according to a person familiar with the matter who declined to be identified. An additional $200 million in debt will also be securitized in future deals, according to the person.

The Spiral office building in New York.

Source: Bloomberg

The proceeds will be used ...