The developers behind the condominium conversion of Tribeca’s historic clock tower building landed a large inventory loan to cover the project’s unsold units. Mack Real Estate Credit Strategies provided a $450 million loan to the sponsors behind the conversion of 108 Leonard Street — a partnership between the El Ad Group and the Peebles Organization — sources told The Real Deal. Representatives for El Ad, Peebles and Mack could not be immediately reached for comment. […]
source https://therealdeal.com/2019/09/11/el-ad-peebles-land-450m-condo-inventory-loan-for-tribecas-clock-tower-conversion/
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