Corem closes a 90 millon USD green loan at 1245 Broadway

Corem have closed a 90 million USD green loan financing with German bank PBB Deutsche Pfandbriefbank for the property 1245 Broadway in New York.
 

1245 Broadway, a 23-story office building located at the corner of 31st Street and Broadway in Manhattan, is Corem’s largest ongoing project and is being developed in collaboration with GDS Development Management (GDSNY). The building will be LEED Gold certified and offer office spaces with the latest technology in air quality and touchless systems. The leasing rate currently amounts to almost 50 percent and both the continued leasing work and ongoing tenant adaptations will continue during the remaining part of 2023.

“We are very pleased to announce this new green financing with PBB at 1245 Broadway. Despite a volatile financial market we can state that new premium office buildings continues to attract new capital. 1245 Broadway is a real Class A property with a strong sustainability profile that we are very proud of”, says Eva Landén, Corem’s CEO.

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Eva Landén, CEO, +46 10 482 76 50, eva.landen@corem.se
Anders Karlsson, Acting Head of Finance, +46 10 482 70 61, anders.karlsson@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.

Corem Property Group is a real estate company that in a sustainable way owns, manages and develops commercial properties in urban and growth areas. Corem Property Group is listed on Nasdaq Stockholm, Large Cap.