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FiDi Condo Tower Secures $167M Macquarie Loan
JLL Capital Markets secured $167 million in condominium inventory financing for Jolie at 77 Greenwich St., a 500-foot-tall, 90-unit residential condo tower in Lower Manhattan’s Financial District that began closings in September.
A JLL team of Geoff Goldstein, Steve Klein and Alex Staikos represented the sponsor, Trinity Place Holdings Inc., to place the loan with Macquarie Capital. The funds will retire existing construction financing and fund remaining project costs.
“The loan from Macquarie gives us the flexibility to maximize the value of the asset in this vastly improving residential sales market,” said Matthew Messinger, president & CEO of Trinity Place Holdings.
In connection with the loan, affiliates of or funds managed by long-time investors MFP Partners and Third Avenue Management provided equity funding in a private placement, with Trinity Place Holdings’ mezzanine lender, an affiliate of its corporate lender and a global institutional asset management firm, providing additional mezzanine financing.
- ◦Financing
