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Slate Property, partner secure $125M refinancing for NYC residential project

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Slate Property, partner secure $125M refinancing for NYC residential project

Diversified real estate company Slate Property Group LLC and Meadow Partners secured $125 million in refinancing for 1 Flatbush Avenue in downtown Brooklyn, N.Y., the Commercial Observer reported.

Mack Real Estate Credit Strategies provided the loan for the 19-story mixed-use development, which is expected to get a temporary certificate of occupancy in the next few weeks, the publication noted, citing an interview with Slate Property Group Principal David Schwartz.

A Jones Lang LaSalle Inc. team negotiated the debt.

The publication could not obtain a comment from Meadow Partners regarding the matter, while Mack Real Estate officials declined to comment.