BOA, Wells Fargo seek partners in $640m loan to Tishman
Bank of America and Wells Fargo are seeking partners in a $640m construction loan to Tishman Speyer for its $1.1bn development of a three-tower residential scheme in Queens, New York. The floating-rate, four-and-a-half year facility at 250bps over one-month LIBOR, reflects a loan-to-cost of 55%. The two US banks are believed to be in talks with a number of lenders interested in participating.
