For large office developments, it’s critical to have an anchor tenant and construction financing. Months after securing the former, Related Companies and Oxford Properties Group landed the latter in Hudson Yards. Related and Oxford scored $1.6 billion in construction financing for their 72-story office tower project at 70 Hudson Yards, Bloomberg reported. The partners subsequently completed a $2.45 billion recapitalization of the development, according to a statement. Wells Fargo, Bank of America and Standard Chartered underwrote and structured the construction debt. Institutional investors also provided equity for the development. Related and Oxford broke ground on the project in July and […]

This article originally appeared on The Real Deal. Click here to read the full story.