A borrower |
JDS Development Group |
A lender |
Apollo Global Management, LLC |
Start Date |
2015-00-00 |
Is Current |
yes |
Amount |
125,000,000 USD |
Goods |
AIG is the senior lender, while Apollo is providing a mezzanine loan. The size of each loan could not be determined, but construction loans are generally as high as about 60% of a project's value, which would put AIG's debt at about $600 million and Apollo's mezzanine loan at about $125 million. |
Notes |
A partnership between JDS Development and Property Markets Group has received financing from AIG and Apollo Global Management to build 111 W. 57th St., a 1,438-foot-tall tower that will be the tallest residential building in the Western Hemisphere when it is completed in 2018. |