Two Trees Management has secured a $364M loan that will finance the completion of two residential towers next to the renovated historic Domino Sugar refinery in the Williamsburg section of Brooklyn.
JPMorgan is providing the financing—$304M in building loans and $60M in project loans—for the two towers at 346 Kent Avenue, where 600 apartment units are under construction.
Two Trees acquired the 11-acre waterfront Domino site in 2012 for $185M from The Community Preservation Corp. In addition to the $250M conversion of the Domino refinery and the two apartment towers, the project also will include a new public park.
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