Hogan Lovells acted for Bizzi & Partners in $313 million joint construction financing for Manhattan skyscraper

Hogan Lovells acted for Bizzi & Partners in $313 million joint construction financing for Manhattan skyscraper

Hogan Lovells, a global law firm, provided legal representation to Bizzi & Partners in a joint financing deal with Fortress Investment Group and US Immigration Fund. The financing is for the construction of a luxury condominium building in lower Manhattan.

Northwind Group, a Manhattan-based real estate private equity firm, announced that it provided a $313 million first mortgage loan through its real estate debt fund. The loan is for a newly constructed luxury condominium building in lower Manhattan, formerly known as 125 Greenwich Street. The borrower was a joint venture between Fortress Investment Group, Bizzi & Partners, and US Immigration Fund, which have experience in developing residential properties in New York City and other markets.

Fortress and Bizzi & Partners are co-sponsors of the development together with US Immigration Fund.

The 88-story, 912-foot-tall building, located a block from the World Trade Centre, will offer a range of homes from studios to three-bedroom residences, many with panoramic views of the Hudson River, Statue of Liberty, and New York City skyline. The building will be renamed, and sales will launch this fall.

The Hogan Lovells deal team was led by finance partner John Beck (New York) and finance senior associate Jennifer Lee (New York). The team also included, in New York, partners Chris Donoho (finance), David Dunn (litigation), Matt Schernecke (finance), Jessica Millett (tax), and Scott Friedman (tax); senior associate Ao Chen (finance), and associate Katherine Lynn (finance). Additionally, the team included, in Denver, partner Scott Campbell, senior associate Josh Savage, and associate Tai Palacio (all real estate).