NEW YORK CITY—CRE buyer Michael Shvo and a smattering of both local and global investors have gotten funding to acquire 125 Greenwich St. in Lower Manhattan.
Shvo brought on David Bizzi's firm Bizzi & Partners as co-developer, and obtained additional equity from Howard Lorber's investment company New Valley as well as an unidentified Chinese public company, according to the Real Deal. The total equity investment for the Lower Manhattan project is approximately $70 million. A Singapore bank along with an Indian private equity firm provided $170 million in debt.
The Carlton Group reports it brokered the financing with a multi-tranched equity and debt capital stack. Partner Michael Campbell, managing directors Jeff Kosow and Robert Mudry and senior associate Chad Roberson worked with Carlton chairman Howard Michaels on the deal.
A partnership of Fisher Brothers and the Witkoff Group sold the site to Shvo for $185 million. That deal was brokered by HFF's Andrew Scandalios.
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