NEW YORK CITY—JEMB Realty Corporation closed on a four-year, $235 million construction loan for One Willoughby Square. The 500,000 square-foot, contemporary 34-story office tower is in Downtown Brooklyn.
Canadian-based Otéra Capital, one of the largest commercial real estate debt lenders in Canada, issued the loan which was negotiated by Aaron Appel, vice chairman, head of New York City debt & equity at Jones Lang LaSalle.
“We are appreciative of the opportunity to support JEMB with this high-quality project which will contribute to the ongoing positive transformation of Downtown Brooklyn,” says Martin Laroche, senior director at Otéra Capital.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
