JLL Capital Markets announced today that it has advised on the sale of and arranged acquisition financing for Ridge Hill, a 1.2 million-square-foot mixed-use lifestyle center with retail and office space in the New York City-area community of Yonkers, New York. JLL marketed the property on behalf of the seller,.
Savanna has completed the construction financing of the 141 Willoughby Street development project in downtown Brooklyn, the firm announced.
Savanna secured $264 million of debt financing from lenders including funds managed by CarVal Investors. With official groundbreaking completed in late 2020, Savanna is building a state-of-the-art, WELL Certified 400,000 s/f office and retail building designed by Fogarty Finger with SLCE Architects as executive architect.
“Assembling construction financing for a major ground-up commercial development is a significant feat in the best of times, and to do so successfully during an unprecedented pandemic reaffirms our belief in the 141 Willoughby vision and Savanna’s commitment to New York City,” said Cooper Kramer, Managing Director at Savanna.