Alston & Bird acted as counsel to Morgan Stanley and certain of its affiliates in the origination of a $1.16 billion debt package secured by the real property and equity interests in 5 Times Square, a 37-story, 1.1 million-square-foot office tower in New York City that is headquarters to accounting firm Ernst & Young LLP.
The financing comprises $782 million in senior mortgage debt, with the remainder divided into multiple subordinate mezzanine debt positions.
Advising Morgan Stanley in the transaction were partners Ellen Goodwin
and Meryl Diamond
, counsel Stephen Millas
, senior associate John Spears
and associates Michael Cromer
and Alan Ruiz
– all from Alston & Bird’s Real Estate Finance & Investment Group