CRED iQ in the News – July 16, 2025
Article Snapshot:
- After executing five one-year extensions, Park Avenue-based real estate investment firm Savanna has run out of time to pay off a nearly half-billion-dollar loan tied to a Midtown Manhattan office tower.
- The $463M CMBS loan tied to 5 Bryant Park matured on June 8. Savanna failed to make the required balloon payment, according to a report from CMBS tracking firm CRED iQ.
