Related Cos. Scores $400M Financing For Hudson Yards Tower

Law360, New York (October 24, 2012, 5:40 PM EDT) -- The Related Cos. LP has reached an agreement with Bank of America Corp. and other lenders for $400 million in construction financing for its 1.7 million-square-foot tower at New York City's Hudson Yards, according to Wednesday news reports.

With help from Bank of America, an unnamed Middle Eastern sovereign-wealth fund and others, Related and co-developer Oxford Properties Group Inc. will be able to start work on the $1.2 billion building next month, the Wall Street Journal reported.

The money will jump-start the first phase of the...
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