American Lions Secures $350M for Mixed-Use Community in LIC
American Lions, a joint venture between Fetner Properties and the Lions Group, has secured a $350 million construction financing of The Italic, a 363-unit luxury mixed-use community in Long Island City.
The development will comprise 283,000 square feet of residential space and 10,000 square feet of commercial retail space. The unit mix will include studio, one-, two- and three-bedroom floorplans averaging 770 square feet. The project is expected to include 254 market-rate units and 109 affordable units.
JLL represented the borrower to secure the loan and arrange joint venture equity with a team led by Christopher Peck, Alex Staikos, Rob Hinckley, Steven Rutman and Nicco Lupo.
American Lions Secures $350M for Mixed-Use Community in LIC
American Lions Secures $350M for Mixed-Use Community in LIC
American Lions, a joint venture between Fetner Properties and the Lions Group, has secured a $350 million construction financing of The Italic, a 363-unit luxury mixed-use community in Long Island City.
The development will comprise 283,000 square feet of residential space and 10,000 square feet of commercial retail space. The unit mix will include studio, one-, two- and three-bedroom floorplans averaging 770 square feet. The project is expected to include 254 market-rate units and 109 affordable units.
JLL represented the borrower to secure the loan and arrange joint venture equity with a team led by Christopher Peck, Alex Staikos, Rob Hinckley, Steven Rutman and Nicco Lupo.
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