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Related's $1.4B Cash Injection

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On Monday, Related Cos., the developer behind the Time Warner Center in New York, said it had received a capital infusion of nearly $1.4 billion from companies including the investment arm of the Abu Dhabi government and Goldman Sachs.

At a time when the credit markets are still on the couch, the deal gives the private developer a fattened purse to fund future development.

Goldman and MSD Capital bought 7.5% equity stakes in Related, while an affiliate of Abu Dhabi's Mubadala Development the Olayan Group and an unnamed company made debt investments of an unspecified amount. The companies will invest with Related in future projects, the developer said.

At Forbes.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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