Hudson Yards Gets A $1.2B Boost From Children’s Investment Fund
With a $1.2B debt financing from the Children’s Investment Fund, The Related Cos and Oxford Properties completed a $2B capitalization for 35 Hudson Yards (pictured), with additional equity coming from an unidentified entity.
In addition to financing 30 Park Place and 520 Park Ave, the London-based fund gave Related and Oxford a $1.3B construction loan for 15 Hudson Yards back in November, Crain’s reports.
Related chairman Stephen Ross said the capitalization “underscores the appeal of Hudson Yards with both global capital and global companies,” in a release. Ross’ firm also partnered with Japanese development firm Mitsui Fudosan for the 1.3M SF office tower at 55 Hudson Yards.
When completed in 2019, the 1.1M SF tower—which began construction this year and sits on 33rd Street and 11th Avenue—will boast office space (including Related’s new global HQ), 137 for-sale condos, two floors of retail spaces, a 200-room Equinox Hotel, and a 60k SF Equinox gym and SoulCycle studio. [Crain’s]
