Global Holdings Secured $382M Refinancing for Midtown Tower
The firm obtained new financing for its 120 Park Avenue office property in Manhattan.
Updated on Sept. 24, 2026 in Commercial
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Global Holdings has secured a $382.4 million refinancing loan for the 120 Park Avenue office tower in Midtown, Manhattan. The deal replaces a previous $335 million loan on the 620,000-square-foot building.
Why it matters
The financing transaction coincides with a long-term lease renewal for the building's anchor tenant, Bloomberg L.P., which now occupies space in the tower through 2040. This secures long-term stability for the property, which is located near Grand Central Terminal.
The 120 Park Avenue tower offers 620,000 square feet of rentable space. Bloomberg L.P. maintains its presence in the building by occupying 80% of the total rentable area.
The players
Global Holdings
The real estate investment and development firm serves as the owner of 120 Park Avenue.
Bloomberg L.P.
The global financial services, software, and media company is the primary tenant at 120 Park Avenue.
Wells Fargo
The multinational financial services company acted as a co-originator for the refinancing loan.
LBBW
The German commercial bank served as a co-originator for the $382.4 million loan transaction.
The details
The loan was co-originated by Wells Fargo and LBBW, providing initial proceeds of $360.5 million. Bloomberg L.P. occupies 500,000 square feet across 20 floors in the office tower.
Timeline
Bloomberg L.P. signed a long-term lease renewal in late 2025.
The new lease agreement for Bloomberg L.P. extends through February 2040.
Culture Shift
This refinancing transaction follows the broader trend of major office buildings in Manhattan securing long-term renewals from anchor tenants to stabilize property financing. Such deals help maintain Midtown's status as a premier corporate hub despite shifting commercial real estate landscapes.
The long-term lease renewal for Bloomberg L.P. ensures a consistent corporate presence in the Midtown neighborhood near Grand Central Terminal. This stability supports surrounding local businesses and retail establishments that serve the office tower's daily commuter population.
The takeaway
Securing a long-term commitment from an anchor tenant like Bloomberg L.P. remains a critical factor for landlords seeking to refinance large-scale commercial assets. For office investors, these renewals serve as a vital indicator of long-term property viability in high-demand markets.
Further reading
For more on the local market, visit New York City Commercial.
Source note: This article includes information reported by NYREJ.
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