White Oak Real Estate Capital (WOREC), an affiliate of White Oak Global Advisors, has provided a $51-million senior secured loan to a wholly owned subsidiary of Xin Capital for the acquisition of Times Square West, a 144.,500-square foot mixed-use assemblage containing 17,500 square feet of ground-level retail and 127,000 square feet of newly renovated office space. Located at 303 W 42nd St and 300 W 43rd St, the building was extensively renovated from 2021 to 2023 by the previous owner and is divided into two retail and two office condominiums.
Both retail condos are 100% leased to globally recognized brands with long-term commitments, including Chick-fil-A, Smashburger, 7-Eleven, Dunkin Donuts, and Little Italy Pizza. In the office condo, Xin Capital has secured a long-term master lease with a global food and beverage operator for 100% of the rentable space.
“We are thrilled to collaborate with Xin to facilitate the acquisition of this property and bridging them through the transformation of the vacant office space into a dynamic, high-traffic destination for world-class food and retail experiences,” said Eric Tanjeloff, WOREC managing principal.
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