RXR and its partners have landed a $1.3B debt package from a trio of lenders for 5 Times Square, a 39-story tower the owner is planning to renovate. Morgan Stanley, Apollo and AIG backed the refinancing, a short-term loan that runs through May 2026.

As part of the debt restructuring, SL Green converted its $139M mezzanine loan on the Times Square tower into equity, joining the development as a partner.

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Jack Rogers

 

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