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This marks the firm's first project in downtown Jacksonville.
The rate is the lowest the company has received for a refinancing since 2019.
The move would put the company close to its Manhattan headquarters.
It includes hotels, condos, and waterside entertainment.
Over the past 25 years, occupancy has been nearly 90%.
The fund aims to create 1,418 affordable homes in 16 communities.
The process took months - but the project has finally broken the ground.
The hotel is set to join a district in West Palm Beach that has locked in several retail brands.
The asset class has "probably bottomed out."
The private institution continues to expand on the east coast.