Taconic, Thor Land $60M Loan For Speculative NYC Project

Law360, New York (December 3, 2012, 5:36 PM EST) -- Debt placement and structured financing firm HFF Inc. has secured a $60 million construction loan for a 55,000-square-foot development planned by Taconic Investment Partners LLC and Thor Equities LLC in Manhattan's Meatpacking District, HFF announced Monday.

The construction loan is in addition to about $40 million in equity that Taconic and Thor have committed to the project, a retail and office complex at 837 Washington St., a Taconic representative confirmed Monday.

In a unique speculative move, the joint venture has already begun preparing for excavation at...
To view the full article, register now.