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Oaktree and SMBC Provide $211M Loan for The Ruby
Closed
Real Estate ServicesNew YorkOther
Deal Overview
SMBC and Oaktree Capital Management provided a $210.8 million loan to refinance MAG Partners’ residential development in Manhattan’s West Chelsea neighborhood known as The Ruby. The transaction includes senior debt from SMBC and mezzanine debt from funds managed by Oaktree.
The Ruby is a 2023-built complex at 243 West 28th Street. The floating-rate refinance retires debt from a prior $196 million refi provided by Tyko Capital and is intended to position the project for long-term stability.
Key Details
- Transaction
- Oaktree Capital Management acquires The Ruby
- Deal Size
- Under $10M
- Reported Value
- $211M
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