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Four Companies Sign Leases at Fisher Brothers’ 299 Park Avenue

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Four companies have together recently leased 100,000 square feet at Fisher Brothers299 Park Avenue, the landlord announced Tuesday.

Kelso & Company, middle market private equity firm, will take 29,812 square feet on the 30th floor, Crescent Capital Group will occupy 29,733 square feet on the 33rd floor, and Lightstone, a real estate investment company, has signed on for 20,055 square feet on the 34th floor.

Lincoln International, a global investment bank, will have 56,656 square feet once it completes an expansion on the sixth and seventh floors.

“As New York City continues to recover and we welcome our tenant workforce back to the office, our multi-year commitment to enhancing our assets with investments in amenities, health and safety, and infrastructure upgrades has led to extraordinary leasing activity,” ​​Ken Fisher, a partner at Fisher Brothers, said in a statement.

Asking rent in the building was in the high $90s per square foot.

According to Fisher Brothers, these companies will reap the benefits of a $20 million capital improvement implemented at 299 Park Avenue last year that included renovating the lobby and the exterior facade as well as upgrading the elevators.

“Lincoln International has experienced significant growth around the world and in New York specifically,” Eric Malchow, North America CEO for Lincoln International, said. “We are taking a second full floor under our existing space on the 6th floor to accommodate our growing team of investment banking advisors. In addition to providing contemporary work and meeting spaces for our talent, we are adding a central staircase between the floors to facilitate collaboration and connectedness – which is core to our culture.”

Marc Packman, Clark Briffel, David Falk, Peter Shimkin, Andy Sachs and Eric Cagner from Newmark negotiated on behalf of the landlord with Crescent Capital Group, Lightstone and Lincoln. Mark Weiss from Cushman & Wakefield represented Lincoln International, while Crescent Capital was represented by Dan Horowitz and Jeff Peck from Savills.

Lightstone was represented by Barry Zeller, Jonathan Serko and Barry Garfinkle from C&W. And Kelso & Company was represented by David Hollander, Chris Corrinet and David Kleinhandler from CBRE.

Mark Hallum can be reached at mhallum@commercialobserver.com.

Article: commercialobserver.com

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London-Based B2B BNPL Platform Playter Nets $55M in Funding

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London-based growth platform Playter, which helps small- to medium-sized businesses (SMBs) grow with B2B buy now, pay later (BNPL) options, has raised $55 million in an equity and debt funding round, according to a Wednesday (June 22) press release emailed to PYMNTS.

The funding, which comes from the backers of Klarna, SoFi and Pipe, will help the company expand further in the U.K. The release noted also that Playter has international ambitions for the future.

Playter helps smaller businesses take control of their payment terms, allowing them to access BNPL services for things like software, agency fees, rent and marketing, spreading payments over six or 12 months.

Jamie Beaumont, founder and CEO of Playter, said this would help add more online BNPL purchases.

“BNPL for business is a completely different concept to B2C BNPL,” Beaumont said in the release. “Right now, there are very few B2B purchases happening online.

“We’ve created a platform that gives total control for businesses to dictate what payment terms they want to have, helping them pay over 6-12 months, whilst their suppliers are still paid within 24 hours. With this superpower, we help businesses that want to scale regardless of the market conditions.”

Beaumont added that it can be “invaluable” for small companies to take advantage of annual software discounts and that smoothing out cash flow is “invaluable” in tough times.

Playter’s services help cut down on burn rates for small companies, and the company has said it lets startups access BNPL for online purchases as well as service expenses, in order to free up capital.

PYMNTS wrote in March that Playter had raised $1.7 million in seed funding, which the company said would go toward sustaining growth for the next few months.

Read more: B2B BNPL Platform Playter Raises $1.7M

The company, founded last year, said its growth had been over 1,000% in size and revenue for the last few months.

Some of Playter’s clients include REalyse, Wiserfunding and more, and the company lets business access up to £300,000 without interest costs or revenue sharing.

Source: pymnts.com

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How to Drive a Better Customer Experience in Today’s Overcrowded, Experience-Driven World

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Join us in this free webinar as we discuss actionable tips and best practices to deliver a better customer experience from discovery to post-purchase.

Article: entrepreneur.com

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Chinese Yuan Weakens to 6.6766 Against USD

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Beijing [China], May 26 (ANI): The central parity rate of the Chinese currency renminbi, or the yuan, weakened 216 pips to 6.6766 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, as per Xinhua News Agency. The central parity rate of the yuan agains

Original Post: bignewsnetwork.com

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