White Oak Real Estate Capital (WOREC), an affiliate of White Oak Global Advisors, has announced the closing of a $51 million senior secured loan to a wholly owned subsidiary of Xin Capital. The loan supports the acquisition of Times Square West, a 144,500-square-foot mixed-use assemblage located at 303 W 42nd Street and 300 W 43rd Street in Manhattan.
The property features 17,500 square feet of ground-level retail and 127,000 square feet of office space, which was extensively renovated between 2021 and 2023. The assemblage is comprised of two retail and two office condominiums.
The retail portion of the project is fully leased to globally recognized brands with long-term commitments. Tenants include Chick-fil-A, Smashburger, 7-Eleven, Dunkin’ Donuts, and Little Italy Pizza. On the office side, Xin Capital has secured a long-term master lease with a global food and beverage operator, occupying 100% of the rentable space.
“We are thrilled to collaborate with Xin to facilitate the acquisition of this property and bridge 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 WOREC.
