Risland U.S. Holdings – $502 Million Construction Loan

Represented a joint venture consisting of Risland U.S. Holdings, LLC (a U.S. subsidiary of a multi-billion dollar publicly traded international developer) and a group of local developers in a $502 million loan for the construction of a new 67-story condominium building in Long Island City. The transaction involved a $450 million syndicated mortgage loan and a $52 million mezzanine loan. This transaction stands as the largest condominium construction loan to have closed in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.