RAL Refis $120M Loan For Brooklyn Residential Towers

By Andrew McIntyre (March 24, 2020, 6:29 PM EDT) -- RAL Development has refinanced slightly more than $120 million of debt connected to two residential towers in Brooklyn, according to records made public in New York on Tuesday and Bank OZK, which holds some of the debt.

Mortgage documents filed Tuesday show two entities affiliated with RAL Development Services LLC landed just north of $120 million in financing for 15 and 50 Bridge Park Drive, one of which is a rental apartment tower and the other for-sale condos. A representative for Bank OZK told Law360 on Tuesday the bank holds some of that debt and a third party, which Bank OZK...

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