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Friedland Properties and Rose Associates land $218M Refi for 7 West 21st Street

Wells Fargo provided the debt

7 West 21st Street (Credit: StreetEasy)

Friedland Properties and Rose Associates has secured $218 million from Wells Fargo Multifamily Capital to refinance 7 West 21st Street, according to CO. The new luxury rental spans 288,000 square feet and contains 288 apartments. 

Dig Deeper: The take-out loan replaces the $182 million in construction debt in 2015. The new floating-rate mortgage includes $36.4 million in tax-exempt bonds and another $181.9 million in taxable bonds.

Worth Defining: A take-out loan is a type of permanent financing that replaces interim financing, such as construction financing.

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