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Taconic, Square Mile Get $164M Loan for 375 Pearl St. in Lower Manhattan

A Holliday Fenoglio Fowler L.P. managing director said today that the firm’s New York office had secured a $163.5 million acquisition and pre-development loan enabling the joint venture between Taconic Investment Partners and Square Mile Capital to buy a nearly 1.1 million-square-foot condominium interest in Lower Manhattan’s 375 Pearl St. As reported Dec. 18 by CPN, the partnership had acquired 29 stories in the 32-story building at the base of the Brooklyn Bridge from Verizon. The joint venture is planning extensive renovations that reportedly may cost as much as it did to buy the space, including installing a new façade,…