NEW YORK CITY – Natixis, an asset management and investment firm, has issued a $130 million senior mortgage loan for 330 East 62nd St., a 7-story build-to-suit community facility for cancer center Memorial Sloan Kettering, a long-term tenant of the property. Progress Capital arranged the financing.

The property is owned by a joint venture between Joy Construction and Maddd Equities under the YYY 62nd Street, LLC. Natixis customized the loan to accommodate aspects of the single-tenant long-term lease with Memorial Sloan Kettering. Terms of the lease include 80% loan-to-value with full input/output and non-recourse.

"Progress and Natixis provided add value at every step and we are excited to have completed the building for a first in class institution such as Memorial Sloan Kettering," said Eli Weiss, managing member of YYY 62nd Street, in a prepared statement. "The project and the financing is a testament to our joint venture's ability to execute across diverse asset classes with institutional tenants and financing partners."

Instant Insights /

Natixis Lends $130M on New Memorial Sloan Kettering Cancer Center

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