Owners ofdowntown Hartford’s State House Square office building have been granted a three-year repayment extension and a lower interest rate.
Owners ofdowntown Hartford's State House Square office building have been granted a three-year repayment extension and a lower interest rate.
New York City commercial-loan tracker Trepp LLC reported last week that owner-landlords FBE-State Square LLC and MAC-State Square LLC had finalized their previously reported efforts begun last April at modifying their original $86.5 million mortgage obtained in 2007 to acquire the office complex at 10-90 State House Square.
The owners could not be reached for comment.
According to Trepp's report, the loan, originally set to mature next February, has been reset to be paid off on or by Feb. 10, 2020. The previous maturity was Feb. 6, 2017.
Also, the interest rate is now 4 percent, down from the original 6.195 percent; Wall Street investment banker-advisor Goldman Sachs originated the loan, Trepp papers show.
Nothing in Trepp's report indicates any changes to Travelers Insurance's previously disclosed plans to occupy less space in the building across from Constitution Plaza sometime in 2017.
– Gregory Seay
