Tishman’s refi of Westin in Times Square grows to $312M Natixis and Credit Suisse provided $255M for 45-story hotel’s leasehold
Dan Tishman and the Westin New York Times Square 上海龙凤论坛sh1f (Credit: Westin)
Tishman Realty has grown its refinancing of the Westin New York at Times Square to a total of $312 million.
The developer secured $57 million from Credit Suisse’s lending arm Column Financial for land beneath the 45-story hotel at 270 West 43rd Street last week上海夜网 , as The Real Deal recently reported. Then, on Thursday, Tishman obtained $255 million for the爱上海同城论坛 hotel s leasehold from both Credit Suisse and Natixis, sources said. Representatives for Tishman and the two lenders did爱上海 not immediately respond to requests for comment.
Each loan carries a 10-year term with a fixed rate. The financing replaces previous debt from Wells Fargo and MetLife, records show.
JLL, which brokered the financing, declined to comment.
The Dan Tishman-led development and property-management firm built the 858-key, 690,000-square-foot 上海贵族宝贝交流区 hotel in the early 2000s and finished a $33 million renovation in 2015. The hotel is part of the E-Walk entertainment complex in Times Square, which also includes a Regal Cinemas. Tishman Realty oversees more than $4 billion in assets.
Tags: dan tishman, Hotel Market, Real Estate Finance, tishman realty & construction
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