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The financing is one of the final deals of 2022 for Square Mile, a New York-based investment manager.
A four-bank syndicate arranged the loan for an 834-unit Brooklyn development.
Loan will pay off construction debt on a Class A building inside Miami Worldcenter.
The financing was arranged on behalf of Royal Palm Companies, with a loan term of 36 months.
Economic volatility is boding well for the strongest stateside industrial corridor in and beyond Southern California.
The financing will be used to launch development of a transit-oriented project in East Orange.
Nominations close on December 12 at midnight for Real Estate Capital USA’s second annual awards.
Despite the slowdown in the lending market, the firm this month obtained a $36m loan for a Maine multifamily development.
The developer is seeing the impact of the expiration of the 421a tax abatement program.
It is getting harder for New York’s mid-market office owners with maturing debt to line up new loans.