Greenpoint Landing

Brookfield lands $217M financing for another Greenpoint Landing resi tower ICBC, Scotiabank led quartet of international lenders
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A rendering of Two Blue Slip and Brookfield s Ric Clark

Brookfield Property Partners has secured financing for its next residential tower at its Greenpoint Landing megaproject with Park Tower Group.

A group of four international lenders led by Industrial and Commercial Bank of China (I爱上海同城

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CBC) and the Bank of Nova Scotia (Scotiabank) are providing roughly $217 million in financing to Brookfield for construction on 41 Blue Slip (a.k.a. Two Blue Slip ), Commercial Observer reported. The 30-story rental tower will stand right next to Brookfield s One Blue Slip, or 37 Blue Slip, which is now complete.

City records indicate that loan documents for the deal were recorded in December.

The new debt refinances part of a $75 million ICBC loan from 2015, which went towards Brookfield s acquisition of the land for One and Two Blue Slip. Scotiabank represented t上海贵族宝贝

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he two other lenders, TD Bank and Intesa Sanpaolo, and the four banks split the $217 million evenly into prorated shares, sources told CO.

Scotiabank assumed a portion of the prior ICBC debt in 2017, when it provided $137 million in financing for One Blue Slip. Last June, ICBC provided Brookfield with a $89 million loan for two other developments in the complex.

Toronto-based Brookfield is constructing four projects at Greenpoint Landing with Park Tower, which holds an undisclosed minority stake in the projects. L+M Development Partners is building three affordable housing projects at the complex as well.

In total, Greenpoint Landing is expected上海夜网论坛

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to feature around 5,500 apartment units, 25 percent of which will be affordable. There will also be retail offerings, public park space and a school. Two Blue Slip will comprise 420 units, while One Blue Slip has 373. 爱上海同城手机版

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[CO] –Kevin Sun

Tags: Brookfield Property Partners, greenpoint landing, Real Estate Finance
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