{"id":1004103860,"date":"2014-09-17T07:16:35","date_gmt":"2014-09-17T15:16:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004103860"},"modified":"2022-12-08T05:47:13","modified_gmt":"2022-12-08T13:47:13","slug":"capital-one-wraps-277m-loan-syndication-for-brooklyn-m-f-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-one-wraps-277m-loan-syndication-for-brooklyn-m-f-tower\/","title":{"rendered":"Capital One Wraps $277M Loan Syndication for Brooklyn M-F Tower"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<p>Capital One Bank, serving as administrative agent and sole lead arranger, has wrapped up the syndication of a $277 million construction loan for 2 North 6th Place, a 554-unit apartment high-rise and the final phase of Douglaston Development\u2019s Edge mixed-use project in the Williamsburg section of Brooklyn, N.Y.<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004103869\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/capital-one-wraps-277m-loan-syndication-for-brooklyn-m-f-tower\/douglaston-development_edge_williamsburg\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg\" data-orig-size=\"1000,593\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;16&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;946685095&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.025&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Douglaston Development_Edge_Williamsburg\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg?w=1000\" class=\"alignright size-medium wp-image-1004103869\" alt=\"Douglaston Development_Edge_Williamsburg\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg\" width=\"300\" height=\"177\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg?resize=300,178 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Douglaston-Development_Edge_Williamsburg.jpg?resize=768,455 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Edge-exterior_Williamsburg1.jpg\"><br \/>\n<\/a><\/p>\n<p>Rising 40 stories above the East River, 2 North 6th will feature 554 market rate and luxury residential units. Edge&#8217;s first phase (pictured), which debuted in 2009, comprises 565 condos, 347 affordable and market rate apartments, as well as 60,000 square feet of retail condominium accommodations. Douglaston\u2019s equity investment partners are AIG Global Real Estate Investment Corp. and MacFarlane Partners Investment Management.<\/p>\n<p>Edge\u2019s second phase drew plenty of interest from lenders. The syndication&#8211;which \u00a0includes TD Bank, Santander Bank, RBS Citizens, Landesbank Baden-Wurttemberg, Mercantile Commerce Bank, and Israel Discount Bank&#8211;was oversubscribed. The loan features a four-year term and three options for a one-year extension.<\/p>\n<p>\u201cCapital One Bank is pleased to support this project, which reflects the growing interest in the Williamsburg waterfront,\u201d Ben Stacks, New York manager for Capital One Bank Commercial Real Estate, said in a statement. \u201cThe developers have already demonstrated their understanding of the optimal mix of units and amenities needed for success in the area.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 554-unit high-rise will mark the final phase of  Douglaston Development\u2019s Edge mixed-use project in the Williamsburg section of Brooklyn, N.Y.<\/p>\n","protected":false},"author":969,"featured_media":1004103869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,1600,21742,10],"tags":[],"class_list":["post-1004103860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-new-york","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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