WASHINGTON, DC-Developers are now not depending on banks for financing and thus trying out different financing options to continue construction as they sense demand in office space. Extell Development Co., a developer of a 1,000-foot-height residential building in Manhattan, has secured part of its finance from the Middle East partners.
Anthony Westreich, a developer of $300 million, 35-story office project in Rosslyn at 1812 North Moore St., has decided to start construction by investing $30 million in cash. For the full story, go to Wall Street Journal.
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