Cantor Fitzgerald and Silverstein Properties, along with their partner Kensington Investment Company, secured a $176.2 million construction loan for the development of Astra Tower, a 40-story, 377-unit residential project located in a qualified opportunity zone in Downtown Salt Lake City. Excavation and foundation work began in Spring 2022, with completion expected in late 2024.

Mack Real Estate Credit Strategies provided the loan.

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David Hoffman

 

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