The Ackman-Ziff Real Estate Group LLC arranged the financing for an entity controlled by The Related Companies, The O'Connor Group and The Related Group of Florida.
Ackman-Ziff secured an interim first mortgage and mezzanine loan from a Wall Street investment bank. The interest rate is floating over LIBOR. This was the fourth financing that Ackman-Ziff, which represented the borrowing entity exclusively, secured for the managing member of the borrower's general partner.
The Palladium at CityPlace is an entertainment-retail development that also has 110 apartments and lofts. The project has a Mediterranean village atmosphere. Tenants there include FAO Schwarz, Macy's, Publix, The Cheesecake Factory, Barnes & Noble, Williams-Sonoma, Hugo Boss, Ann Taylor, Kenneth Cole, Nicole Miller, Banana Republic, City Cellar Wine Bar and Grill and a 20-screen Muvico complex.
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