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Westdeutsche Immobilien beat out a horde of Wall Street lenders to land a $325 million financing assignment on 666 Fifth Avenue in Midtown Manhattan.
The German bank has agreed to provide the three-year, floating-rate loan to a partnership between Tishman Speyer Properties of New York and TMW Real Estate, a German syndicator that is based in Atlanta. The duo is buying the 1.5 million-square- foot trophy building for $540 million.
At least a dozen Wall Street lenders competed for the assignment, but Westdeutsche's...