We advised Related and Oxford on the transaction 

Davis Polk advised affiliates of The Related Companies, L.P. and Oxford Properties Group in connection with an investment by JLC Infrastructure in a cogeneration facility at Hudson Yards. The cogeneration facility is a highly efficient 13.3 megawatt cogeneration facility that serves Hudson Yards as a microgrid and district energy system. As part of the transaction, Related and Oxford entered into a joint venture with JLC and will remain invested in the project. Related will continue to manage the cogeneration facility.

Related is one of the nation’s most innovative and prolific real estate development firms. Headquartered in New York City, Related’s existing operating portfolio of real estate assets is valued at more than $60 billion.

Oxford is the real estate investment arm of OMERS, one of Canada’s largest pension plans. Oxford’s real estate portfolio consists of approximately 158 million square feet of commercial space, 3,400 hotel rooms and 10,000 residential units.

JLC Infrastructure is an investor and asset management firm focused on the transportation, communications, energy and communications sectors in the United States. The firm was formed in 2015 by Loop Capital and Magic Johnson Enterprises with offices in Chicago and New York City.

The Davis Polk real estate team included partner Brian D. Hirsch, counsel Lawrence R. Plotkin and associates Rachel M. Feldstein, David Beizer and Ben Montgomery. The tax team included partner Patrick E. Sigmon and associate Yueyu Yang. Counsel Mary K. Marks provided antitrust and competition advice. All members of the Davis Polk team are based in the New York office.

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