W
hite Oak Real Estate Capital, an affiliate of White Oak Global Advisors, has provided a $51 million senior secured loan to Xin Capital for the acquisition of Times Square West in New York City. The 144.5k square foot mixed-use assemblage features 17.5k square feet of retail and 127k square feet of newly renovated office space at 303 W 42nd St and 300 W 43rd St.
The property was extensively renovated from 2021 to 2023 and is divided into two retail and two office condominiums, with both retail units fully leased to globally recognized brands. The office condominium has a long-term Master Lease with a global Food and Beverage operator for 100% of the rentable space.
"We're thrilled to collaborate with Xin Capital on this acquisition," said Eric Tanjeloff, Managing Principal at White Oak Real Estate Capital. "The property's strong cash flows and prime tenancies make it an attractive opportunity for our investors."
Xin Capital Founder Jerry Tang added, "We're pleased with WOREC's execution on this financing, which allowed us to take advantage of a once-in-a-lifetime opportunity to buy undervalued assets in Manhattan."
This transaction follows recent loans to Related Companies and 1784 Holdings, demonstrating White Oak Real Estate Capital's continued momentum in delivering real estate financing solutions across the country.
White Oak Real Estate Capital is a lender specializing in originating bespoke financing solutions secured by transitional assets. The company lends across major markets in the U.S. and is headquartered in New York City.
About White Oak Global Advisors
White Oak Global Advisors, an alternative debt manager, specializes in originating and providing financing solutions to support small and middle market enterprises at every stage of their lifecycle. Since its inception in 2007, WOGA and its affiliates have deployed over $11 billion while establishing long-term partnerships with borrowers.
