Tishman Speyer said Friday it had refinanced the Rockefeller Center campus via a $3.5-billion CMBS loan. Reportedly it’s the largest CMBS issuance ever for a single office asset.

Bank of America and Wells Fargo served as co-lead managers on the five-year, Single Asset Single Borrower loan with a fixed interest rate of 6.2265%. Proceeds will be used to pay off Rockefeller Center’s previous 20-year, $1.7-billion CMBS loan and additional mezzanine financing set to mature in May 2025, and fund reserves for contractual leasing costs.

“We are proud of our stewardship of Rockefeller Center,” said Tishman Speyer CEO Rob Speyer.  “The lending market’s overwhelming response speaks volumes about the success of our redevelopment and their confidence in top-performing assets.” Rockefeller Center is co-owned by Henry Crown & Co, the Crown family’s Chicago-based investment fund, and Tishman Speyer.

The refi occurs as Tishman Speyer’s comprehensive redevelopment of the renowned 13-building campus nears completion. 

New York City-based fashion brand Alex Mill has signed a lease at Rockefeller Center, slated to open holiday 2024. Alex Mill’s new location at 1 Rockefeller Plaza will be the brand’s third brick-and-mortar store, spanning approximately 1,752 square feet.

The brand was founded in 2012 by Alex Drexler, with the goal of making the perfect shirt. His father, Millard “Mickey” Drexler, is the company’s chief investor and chairman. In 2019, the brand was relaunched to now include both men’s and women’s apparel.

“Alex Mill is a prime example of the types of creative businesses Rockefeller Center is excited to bring to campus,” said EB Kelly, senior managing director, Tishman Speyer and head of Rockefeller Center. “Craftsmanship and attention to detail are in our DNA as stewards of Rockefeller Center, so this is a perfect match.”

Alex Mill’s addition to Rockefeller Center extends the Center’s ongoing success in attracting a diverse range of both local and international brands. Other recent retail additions include luxury Australian brand Aesop, piercing studio Studs and vintage soccer jersey retailer Saturdays Football.