French billionaire Marc Ladreit de Lacharrière lined up $250 million to finance his acquisition of Thor Equities’ 693 Fifth Avenue in Midtown.Debt financing on the $525 million deal is coming from JPMorgan Chase, according to the Commercial Observer.
Ladreit de Lacharrière – who is chair and CEO of Fimalac, a French holding company that owns a minority stake in Fitch Ratings and Warburg Pincus – closed last week on the 20-story, 105,000-square-foot property, which is anchored by a 19,600-square-foot Valentino store. The retailer reportedly pays $3,000 per foot.
It’s not clear what has Ladreit de Lacharrière has planned for the property.
CBRE’s Shawn Rosenthal and Jason Gaccione represented Ladreit de Lacharrière in the financing. [CO] – E.B. Solomont