We advised The Related Companies and its joint venture partner Oxford Properties Group on the financing

Davis Polk advised The Related Companies, L.P. and its joint venture partner Oxford Properties Group in connection with a $375 million mortgage loan from Carlyle Group to finance expenses relating to the Edge, an observation deck located at 30 Hudson Yards in New York City. At 1,131 feet, the Edge is the tallest outdoor observation deck in the western hemisphere and will be open to the public in March 2020.

Related is one of the nation’s most innovative and prolific real estate development firms. Headquartered in New York City, Related’s existing operating portfolio of real estate assets is valued at more than $60 billion.

Oxford is the real estate investment arm of OMERS, one of Canada’s largest pension plans. Oxford’s real estate portfolio consists of over 150 properties totaling approximately 56 million square feet, over 9,500 residential units and 3,600 hotels rooms located primarily across Canada, Western Europe and select U.S. markets.

The Carlyle Group is a global investment firm with $222 billion of assets under management across 365 investment vehicles.

The Davis Polk real estate team included partner Brian D. Hirsch and associates Kimberly (KyungEun) Won, Jaclyn Katz, Rachel Hoberman, Rachel M. Feldstein and Paulina Gordon. The intellectual property team included counsel Daniel F. Forester and associate Yifu Chen. The tax team included partner Po Sit and associate Lex L. Varga. All members of the Davis Polk team are based in the New York office.