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Hudson Yards: The Deal is Done

NEW YORK CITY-Related has closed on $1.4 billion in financing after inking two more prestigious tenants for the south tower.

By Rayna Katz | Updated on April 10, 2013

NEW YORK CITY-In a watershed moment for Midtown South, Related Cos. and Oxford Properties Group announced on Wednesday that they have closed on nearly $1.4 billion in equity investments and debt financing for Hudson Yards. In addition, it was revealed Wednesday that Related has secured two new, well-known tenants for the south tower, L’Oréal USA, which pans to make the building its headquarter offices, and SAP, the software concern, will join Coach in the South Tower of Hudson.

A consortium of investors and lenders will fund the South Tower—the first part of the complex—which, as previously announced, also will be the global headquarters of Coach, the fashion brand best known for its high-quality leather goods.

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