$1.25bn financing backs Manhattan West office tower

A consortium of banks is providing $1.25bn in financing to Brookfield Property Partners for the development of a 2.1m sq ft office tower at Manhattan West. Wells Fargo, Deutsche Bank, Bank of New York Mellon and Toronto-Dominion Bank are co-leading the $1.25bn construction financing, which combined with a $850m equity contribution from Brookfield brings the office tower’s total cost to $2.1bn.