Invesco-led venture secures $115m loan against Manhattan retail space

A venture led by Invesco has secured $115 million of financing against 35,000 square feet of retail space at the base of the 330-room Knickerbocker Hotel in Manhattan, reported Commercial Observer.

Invesco has controlled the space since the end of 2012, when it paid $195.8 million to buy majority stake from Walton Street Capital. The retail space was occupied by Toys ‘R Us until 2018 when the retailer closed all of its stores. The tenant will be JD Sports, a British athletic-wear retailer.