Cleary Gottlieb represented Goldman Sachs Mortgage Company (GSMC) in its origination of a $191,250,000 mortgage loan to affiliates of SL Green Realty Corp. and Gramercy Capital Corp. The fixed rate loan is secured by a fee interest in the land underlying 2 Herald Square, an office and retail building in New York. The loan, used for the acquisition of the fee interest in the land, funded on April 9.
SL Green Realty is the owner and operator of a portfolio of commercial office buildings in New York, and Gramercy Capital is a national commercial real estate investment trust. GSMC is the commercial mortgage lending affiliate of Goldman Sachs & Co.