Ault Global Real Estate Equities, the indirect wholly owned subsidiary of Hyperscale Data, a diversified holding company, has, through its minority holding, Fouquet’s New York, completed a financing of $145 million with a series of funds affiliated with Goldman Sachs. This transaction enabled Fouquet’s to refinance its senior debt at a very attractive leverage level with the potential for substantial future upside in cash flow.
“We are proud to hold a minority interest in what we believe will be an iconic New York property over the years to come,” Milton “Todd” Ault III, executive chairman of Hyperscale Data, said. “The Fouquet’s team has created a fantastic property that continually improves its guests’ experience. We look forward to seeing how the property develops and grows within the community.”
