Wells Fargo : Leads $407 Million Financing for Rockpoint’s Acquisition of One Dag Hammarskjöld Plaza

NEW YORK - Wells Fargo & Company (NYSE: WFC) announced the closing of a $357 million senior loan to Rockpoint Group for the acquisition of One Dag Hammarskjöld Plaza.

One Dag Hammarskjöld is located at 885 Second Avenue in Midtown Manhattan, anchoring the United Nations submarket and serving as the home to several UN foreign missions as well as a major healthcare provider. The Class-A office tower consists of 50 stories and 813,000 square feet. It spans the western block of Second Avenue between 47^th Street and 48^th Street.

A Brookfield-sponsored real estate debt fund co-originated the financing and contributed a $50 million mezzanine loan, resulting in total financing of $407 million. The loan was provided with a floating interest rate and a 60-month term.

'One Dag Hammarskjöld Plaza stands out among the prominent office towers located in Midtown East for its location, amenities and tenants,' said Dave Martin, head of the New York-based Real Estate Banking team in Wells Fargo's Commercial Real Estate group. 'Wells Fargo was pleased to partner with Rockpoint Group, a highly valued customer, to lead the financing for this notable acquisition.'

Wells Fargo has financed several other major acquisitions for Rockpoint Group in New York City. In May 2018, Wells Fargo Multifamily Capital provided Rockpoint Group and Brooksville Company with a $501 million loan to support the purchase of the Starrett City complex in East New York.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,800 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 259,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2018 rankings of America's largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Rockpoint Group

Rockpoint Group, L.L.C. ('Rockpoint') is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston and with additional primary offices in San Francisco and Dallas. Rockpoint employs a fundamental value approach to investing and targets select product types located primarily in major coastal markets in the United States. Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs. Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations. Since 1994, Rockpoint's co-founders with others have sponsored 14 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. In total, they have raised approximately $20 billion in capital commitments and invested or committed to invest in 414 transactions with a total peak capitalization of $57 billion (inclusive of fund equity, co-investor equity and debt).