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SL Green, Bank of China boost loan for NYC complex to $647M

SL Green Realty Corp. and Bank of China Ltd. boosted the size of their loan for the Industry City complex in Brooklyn, N.Y., by $244 million to $647 million to aid the next phase of development of the six-acre property, Commercial Observer reported, citing an announcement by the ownership group.

The report quoted Industry City CEO Andrew Kimball as saying that the fresh financing will allow it "to bring new spaces online, create new amenities, make infrastructure improvements and ultimately continue to drive leasing and job creation."

According to the report, SL Green declined to comment, while Bank of China did not respond to requests for comment on the matter.