Barnett scores $1.2B equity infusion for Disney campus, Torch, more
Extell Development landed a $1.2 billion lifeline for its jam-packed pipeline. An undisclosed hedge fund is taking a preferred equity stake in nine projects from Gary Barnett’s shop, according to Tel Aviv Stock Exchange filings translated by Bisnow. The infusion provides a glimpse into Barnett’s next chapter as the hedge fund backing could help bring several long-simmering assemblages to market at once. The splashiest is on the Upper West Side, where Extell is teeing up a 1.8 million-square-foot mixed-use complex at Disney’s old ABC campus. Barnett shelled out $921 million for the properties in 2022 and preservationists warn zoning allows […]
This article originally appeared on The Real Deal. Click here to read the full story.
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