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September 28, 2018  

Mack Inks Mezz on NY Condo Project

Mack Real Estate has provided a $66 million mezzanine loan on the unsold inventory of a residential condominium project in Manhattan’s Financial District.The floating-rate loan, with a maximum term of two-and-a-half years, is subordinate to some $120 million of senior debt previously provided by Bank Leumi for development of the 98-unit luxury property, at 161 Maiden Lane. Construction is due to be completed early next year.The new...

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