American Lions, a joint venture between Fetner Properties and the Lions Group, has secured a $350M debt and capitalization for The Italic, a 363-unit luxury residential tower at 26-32 Jackson Avenue in Long Island City.
The Carlyle Group is one of the equity partners, and the debt includes a $35.8M loan from Brookfield.
JLL Capital Markets arranged the financial package for the borrower. JLL's Capital Markets Debt Advisory team was led by Senior Managing Director Christopher Peck and Director Alex Staikos. Senior Managing Director Rob Hinckley, Senior Director Steven Rutman and Director Nicco Lupo led JLL's Capital Markets Equity Advisory team.
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