Press Release March 16, 2017

Morgan Stanley Originates $1.16 Billion Loan Secured by 5 Times Square Tower

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.
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