BXP closes $1.2 billion construction loan for 343 Madison Avenue project in Manhattan
Complete. Here is the key summaryBXP closed a $1.2 billion construction loan for its 343 Madison Avenue project in Manhattan. The facility features a four-year initial term with an extension option, priced at Term SOFR plus a spread tied to milestones. This financing supports the development of a roughly $2 billion, 46-story tower targeting late 2029 delivery. Wells Fargo led the financing, with BofA Securities, BNY, and JPMorgan as joint lead arrangers.
- BXP closed a USD 1.2 billion construction loan for its 343 Madison Avenue development in Midtown Manhattan. * Facility includes a four-year initial term, with a one-year extension option subject to customary conditions. * Pricing starts at Term SOFR + 2.5%, stepping down to Term SOFR + 2.25% tied to leasing and construction milestones. * Loan supports a roughly USD 2 billion, 46-story, 930,000-square-foot tower targeted for delivery in late 2029. * Wells Fargo led the financing; BofA Securities, BNY, JPMorgan participated as joint lead arrangers. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BXP Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202607281614BIZWIRE_USPR_____20260728_BW590441) on July 28, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)