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New York & Tri-State  + Outer  + Finance  | 

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.

For comments, questions or concerns, please contact Paul Bubny

Connect

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development
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