Located in Downtown Brooklyn, the 720-foot-tall skyscraper development at City Point is the borough’s largest food, shopping and entertainment destination.
The deal included a $425 million construction loan from a consortium of banks, led by M&T Bank, and a $105 million mezzanine loan from RXR Realty.
Collas Crill’s BVI team, led by Partner Ian Montgomery, worked alongside Fried, Frank, Harris, Shriver & Jacobson LLP (New York) and Paul Hastings LLP (New York), all acting for Extell Development.
Collas Crill’s Jersey-based Associate, Conor Walsh, assisted on the transaction.
Partner Ian Montgomery said: “Collas Crill is known as one of the leading offshore legal advisers on US real estate transactions and we were delighted to work with Extell Development on yet another high-profile development project in New York City.”