Natixis successfully closed the $1.9 billion 20 Times Square transaction in two financings to Maefield Development and Fortress for the recapitalization, construction completion, and final leasing of 20 Times Square, located at the corner of 7th Avenue and 47th Street in the Times Square area of New York City. Natixis was the sole lead arranger and structured the entire transaction.
The first newly constructed Times Square property in 30 years
This first newly constructed Times Square property in 30 years is a 42-story building which contains a 452-room hotel, The Times Square EDITION, with nine distinct outdoor and indoor food and beverage outlets, 74,820 square feet of retail, and 18,000 feet of Times-Square facing electronic signage that wraps the base of the building.
A landmark transaction
This landmark transaction on a trophy property illustrates Natixis’ ability to structure complex, high value-added transactions for the client. We distributed the debt to 46 different investors across 10 countries, which is quite an embodiment of the strength of our distribution capability cross platform.
It further solidifies Natixis’ top notch franchise in Real Estate & Hospitality (RE&H), which has been identified as a key sector for Natixis.