May 1, 2018 Comments Off on Brooklyn Waterfront Project Scores $411M in Debt and Equity Views: 2897 New York News, Outer Boroughs New York

Brooklyn Waterfront Project Scores $411M in Debt and Equity

Meridian Capital Group has arranged $411 million in construction financing and joint-venture equity for Pier 6 at Brooklyn Bridge, the multifamily project now being developed by RAL Companies, Vanke US and Oliver’s Realty Group. The loan was provided by a balance sheet lender and totals $251 million, while the JV equity totals $160 million.

New York-based Drew Anderman and Alan Blank of Meridian arranged the financing. “The professionalism and attention to detail that RAL and their partners have devoted to this project over the last three years is a testament to their vision,” said Anderman. “When complete, they will be two of the finest buildings in Brooklyn and the New York City area.”

Located at Brooklyn Bridge Park along the Brooklyn Heights waterfront, the project will consist of a 29-story, 126-unit luxury condominium tower, and a 14-story rental tower comprised of 140 units.

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