NEW YORK CITY-Waterton Associates has just acquired two mortgage notes valued at a combined $150 million on the recently constructed The Addison building.
The Addison, a 271-unit tower, is located in Brooklyn at 221 Schermerhorn St. and was sold at an undisclosed discount. Waterton bought the mezzanine loan from an Archstone Smith affiliate, Capital Mezz, and the senior mortgage from iStar Tara. Georgia Malone & Co. represented Waterton in the transaction. For the full story, go to New York Post.
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