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mixed-use asset
Greystone-arranged financing will help build submarket’s tallest multifamily asset.
Washington, DC, shopping mall will be redeveloped into mixed-use asset with 320 apartment units.
The financings will be used for projects in Miami and Brooklyn.
JLL arranged the financing for Five Star Development to finish the $2bn project development.
The borrower in the deal is American Lions, a joint venture between Fetner Properties and the Lions Group.
The New York-based lender has added exposure in Honolulu’s Ala Moana submarket with one of the largest deals signed so far in 2023.
Los Angeles firm closes $3.8bn of debt in 2022 across bridge, construction, mezz lines.
Robert Lapidus, L&L president and CIO, says the firm is looking past New York for its next deals.
Torose Capital targets value-added office, retail and mixed-use following firm launch.
The financing will be used to launch development of a transit-oriented project in East Orange.