At a glance
- The borrower is a joint venture between a global investment firm and Stonehenge Investment, led by chairman and CEO Ofer Yardeni.
- For allocators comparing bank-led floating-rate paper with private debt funds, the loan sets a current bank mark for a renovated 1990 New York apartment tower: about $487,000 per apartment across 479 units.
- Stonehenge was on the buy side in September, when Alcion and Slate sold 60 East 12th Street to Stonehenge and Wraith Capital Group for $82.5 million, as Private Wealth Daily previously reported.
Natixis Corporate & Investment Banking led a $233.3 million floating-rate loan that refinances The Ritz Plaza, a 479-unit apartment tower at 235 W. 48th St. in Midtown West, according to Connect CRE.
The borrower is a joint venture between a global investment firm and Stonehenge Investment, led by chairman and CEO Ofer Yardeni. Lawrence Britvan and Michael Straw of CBRE arranged the debt. Terms beyond the loan amount were not disclosed.
For allocators comparing bank-led floating-rate paper with private debt funds, the loan sets a current bank mark for a renovated 1990 New York apartment tower: about $487,000 per apartment across 479 units. The building's ground floor includes La Masseria restaurant.
Stonehenge was on the buy side in September, when Alcion and Slate sold 60 East 12th Street to Stonehenge and Wraith Capital Group for $82.5 million, as Private Wealth Daily previously reported.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections