One Liberty Plaza

One Liberty Plaza, New York, New York 10006

Property Overview

Built in 1972, One Liberty Plaza is a 53-story, Class A trophy office building located in Manhattan’s World Financial Center (World Trade Center) submarket. The 2,186,163 square foot building is in excellent condition with efficient column-free floor plates, which provide views of New York Harbor. The property is owned by Brookfield Financial Properties and is currently 99 percent leased to 21 office tenants and 3 retail tenants.

The property’s existing $850 million senior first mortgage has been split into six individual pari-passu notes. KBS REIT II has agreed to purchase two of these notes that total $115 million. The notes were acquired at a discount to their par value. The loan has interest-only payments for the first four years and amortizes for the final six years of the term.

Investment at a Glance

Location: New York, NY

Property Type: Class A Office

Investment Type: Senior First Mortgage

Acquisition Date: February 11, 2009

Total Loan Amount: $66,700,000

Loan Par Value: $115,000,000

Loan Term: 102 months

No. of Buildings: 1

No. of Stories: 53

Square Footage: 2,186,163 SF

Leased Percentage (at the time of Acquisition): 99%

$66,700,000 Total Purchase Price
2,186,163 square feet Total Rentable Area
Class A Building Class