October 27, 2016 6:50 PM ET

Company Overview of Olayan America Corporation

Company Overview

505 Park Avenue

New York, NY 10022

United States

Key Executives for Olayan America Corporation

President and Chief Executive Officer
Age: 62
Compensation as of Fiscal Year 2016.

Olayan America Corporation Key Developments

ING Capital LLC Originates $570 Million Senior Secured Bridge Loan for Olayan America

ING Capital LLC originated a $570 million senior secured bridge loan for Olayan America, the US investment arm of The Olayan Group, to purchase 550 Madison Avenue in Manhattan. The short-term loan is secured by a first mortgage on the property, an iconic skyscraper known most recently as the Sony Building. The 37-story building in the Plaza District of Manhattan has 852,830 square feet of rentable mixed-use space. The building features approximately 776,000 square feet of office space, prime retail frontage on Madison Avenue, and exhibition and museum space. The property is currently occupied by one restaurant tenant holding 5,000 square feet. It is effectively 100% vacant, providing Olayan and asset manager Chelsfield an opportunity to rebrand the building and create value by renovating and reconfiguring the existing space. Construction of the building was completed in 1984 as the global headquarters of AT&T. It has been sold on just two previous occasions to Sony Corporation in 2002 and in 2013 to the Chetrit Group, the immediate past owner.

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Recent Private Companies Transactions

April 25, 2016
550 Madison Avenue

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