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Avison Young’s Tri-State Debt & Equity Finance Group arranged the Times Square-area financing.
The company is seeing more conventional lenders entering the market.
The advisory’s parent company Black Bear Asset Management also made a preferred equity investment.
The firm entered the Chicago market this year, originating a $117m loan for LendLease and Super Aware.
The firm has just closed a $7.25m senior bridge loan on a San Francisco property.
The lender is financing LendLease and Aware Super’s development on a downtown apartment tower.
Berkadia, which arranged the financing, wants to carve out a niche in the sector.
The BlackRock vehicle is the only passively managed dedicated CMBS ETF.
The investment will help to drive product development.
Owners L&L Holding Corp and Columbia Property Trust obtained the loan in July as part of a plan to reimagine the former railroad terminal as a modern office and retail property.

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