Deutsche Bank led the consortium of nine banks that provided thefinancing, which was arranged by Holiday Fenoglio Fowler LP. Acompany spokesperson could not further provide details on the ninebanks or provide further information.
The 38-story building will have for sale and rental product,while the 23-story building will be entirely rental product.Riverside South is a 13-acre tract of land purchased by Carlyle andExtell for $1.8 billionin 2005, as GlobeSt.com previously reported.
A source close to the deal says that it was difficult to getfinancing in today's market as lenders are more discerning. "Ourability to secure financing in this challenging market environmentis testament to the great location and success of the tworesidential towers we've already built and 70% sold at RiversideSouth as well as our highly regarded partners, Extell and RREEF,"says Robert Stuckey, head of Carlyle's US Real Estate Team. "Sincewe began selling units at Riverside South in 2006 we have sold 437luxury condominium units for a total value of $788 million."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
