Chatham Financial advises Tishman Speyer in largest ever CMBS loan defeasance for Rockefeller Center

NEW YORK — November 7, 2024 — Chatham Financial, a global leader in financial risk management advisory and technology, is proud to have advised Tishman Speyer in executing the largest defeasance on a Commercial Mortgage-Backed Securities (CMBS) loan to date, successfully closing on Rockefeller Center on October 18, 2024. This landmark transaction underscores Chatham’s continued expertise in optimizing financial strategies for its clients.

“Chatham’s decades of experience in defeasance allowed us to secure advantageous terms for Tishman Speyer to continue their capital improvement program of this iconic asset,” said Mark Weiss, head of Real Estate at Chatham Financial. “Our competitive auction process not only streamlined the defeasance for our client but also delivered significant savings. This achievement reflects our ongoing commitment to providing unparalleled service and maximizing our clients’ financial results.”

Tishman Speyer co-owns Rockefeller Center, a 7.3 million square foot and 13-building campus, with Henry Crown & Co. The legendary Rockefeller Center was built nearly a century ago as a “city within the city.” The massive refinancing has been secured as Tishman Speyer’s comprehensive redevelopment of the renowned campus nears completion. The expansive reimagining program has cemented Rockefeller Center’s status as the most dynamic destination to work, dine, shop, and play in New York City.

A pioneer in defeasance for nearly 25 years, Chatham leveraged its well-established network and auction process to ensure the optimal outcome for Tishman Speyer. Chatham has one of the largest dedicated defeasance consulting teams in the world, with the scale and experience to secure the lowest securities costs and most attractive fee structures.

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About Chatham Financial

Chatham Financial is the largest independent financial risk management advisory and technology firm. A leader in debt and derivative solutions, Chatham provides clients with access to in-depth knowledge, innovative tools, and an incomparable team of over 700 employees to help mitigate risks associated with interest rate, foreign currency, and commodity exposures. Founded in 1991, Chatham serves more than 3,500 companies across a wide range of industries — handling over $1 trillion in transaction volume annually and helping businesses maximize their value in the capital markets, every day. To learn more, visit chathamfinancial.com.