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NEW YORK CITY-A joint venture has won a $206.5-million loan for the construction of a 210,213-sf mixed-used condominium community at the southeast corner of West End Avenue and West 70th Street. The loan will cover all the construction costs minus the equity put in.

Hypo Real Estate Capital Corp. secured the financing. The property is being developed by Clarett Capital LLC, which is a joint venture between the Clarett Group and Prudential Real Estate Investors and with ING/Clarion. The 27-story condominium will include 191 apartment as well as 27,000 sf of retail and a 76-car parking garage. No construction timetable has been announced.

This is the second transaction Hypo and Clarett worked on. In December, the company completed a $138.7-million loan for the construction of a residential tower at 11 East 29th St. Hypo is a subsidiary of Hypo Real Estate Bank International. Over the last five years, the firm has closed more than $22 billion of loans.