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XIN Development Nabs $108M Loan For NY Condo Project

Law360, Minneapolis (March 28, 2017, 10:41 AM EDT) -- XIN Development International Inc. has scored $108 million in construction financing from Bank of the Ozarks Inc. for a New York condo project that will also have ground-floor retail, according to an announcement on Tuesday from Eastern Consolidated, which brokered the deal for XIN Development.

The loan is for 615 Tenth Ave., where XIN is planning an 82-unit, seven-story project that will have more than 36,000 square feet of retail space.

The deal had been rumored earlier this week.

“This is a fantastic location for XIN...
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