Transactions - FEBRUARY 11, 2019

WeWork secures $900m of financing against Manhattan mixed-use building

by Andrea Zander

WeWork Property Advisors has secured $900 million of financing against the Lord & Taylor building at 424 Fifth Ave. in Manhattan, according to The Real Deal.

JPMorgan Chase Bank, Starwood Property Trust and another undisclosed lender provided the financing.

WeWork Property Advisors, an investment vehicle managed by the We Company and private equity firm Rhône Group, announced it would buy the building from Hudson’s Bay Company in October 2017 for $850 million.

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