White Oak Real Estate Capital Provides $51M Senior Secured Loan for the Acquisition of Times Square West

NEW YORK--(BUSINESS WIRE)--White Oak Real Estate Capital (“WOREC”), an affiliate of White Oak Global Advisors (“White Oak”) today announced it has provided a $51 million senior secured loan to a wholly owned subsidiary of Xin Capital for the acquisition of Times Square West, a 144.5k square foot mixed-use assemblage containing 17.5k square feet of ground-level retail and 127k square feet of newly renovated office space in New York City.

The building, located at 303 W 42^nd St and 300 W 43^rd St, was extensively renovated from 2021 to 2023 by the previous owner and is divided into two retail and two office condominiums.

Both retail condominiums are 100% leased to globally recognized brands with long-term commitments, including Chick-fil-A, Smashburger, 7-Eleven, Dunkin Donuts, and Little Italy Pizza. In the office condominium, Xin Capital has secured a long term, Master Lease with a global Food and Beverage operator for 100% of the rentable space.

“We are thrilled to collaborate with Xin to facilitate the acquisition of this property and bridging them through the transformation of the vacant office space into a dynamic, high-traffic destination for world-class food and retail experiences,” said Eric Tanjeloff, Managing Principal at White Oak Real Estate Capital. “The property’s strong cash flows and prime tenancies provide a compelling opportunity for our investors.”

"We are very pleased with WOREC's execution on this financing which allowed us to take advantage of what we believe is a once in a lifetime opportunity to buy undervalued assets in Manhattan,” said Jerry Tang, Founder of Xin Capital.

This transaction follows the recent $46.2M senior secured loan to Related Companies for the Village at Tuxedo Reserve and the $27.2M senior secured loan to 1784 Holdings for self-storage development in Garden Grove, California, underscoring WOREC’s continued momentum in delivering real estate financing solutions in strong markets across the country.

About White Oak Real Estate Capital, LLC
White Oak Real Estate Capital, LLC (“WOREC”), an affiliate of White Oak Global Advisors, LLC, is a lender to the commercial real estate industry specializing in originating bespoke financing solutions secured by transitional assets. WOREC lends across most major and growth markets across the U.S. The company is headquartered in New York City.

About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is an alternative debt manager specializing in originating and providing financing solutions to support small and middle market enterprises at every stage of their lifecycle. WOGA and its financing affiliates provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, WOGA and its affiliates have deployed over $11 billion while establishing long-term partnerships with borrowers. The firm and its affiliates have offices and personnel throughout the US, UK, and Australia. More information can be found at www.whiteoaksf.com.