A joint venture has nabbed $280 million in debt and equity to develop a mixed-income rental property on Astoria’s waterfront. Cape Advisors and The Pioneer Group secured a $225 million construction loan from Square Mile Capital Management, Commercial Observer reported. The loan will have full-term interest-only payments. Denver-based real estate investment trust UDR provided the equity. Meridian Capital Group advised on the debt, and JLL on the equity. The development at 30-77 Vernon Boulevard will
source https://therealdeal.com/2020/07/31/astoria-waterfront-project-nabs-280m-financing-package/
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