North America

Related and Oxford recapitalise Hudson Yards

Related Companies and Oxford Properties have recapitalised 10 Hudson Yards in New York.

As part of the deal, which saw $1.2bn in debt finance proved by Deutsche Bank and Goldman Sachs, Allianz now owns a 44% stake in the building.

The 52-storey tower is now owned by a limited partnership that includes Allianz, Related Companies, Oxford Properties Group and institutional investors advised by JP Morgan Asset Management.

Competed earlier this year, it is the global headquarters of Coach, L’Oréal USA, SAP, Boston Consulting Group, VaynerMedia, Intersection and Sidewalk Labs.

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