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Shorewood secures $75M Refi for 17 John Street

ACORE Capital provided the debt

17 John Street (Credit: Shorewood)

Shorewood Real Estate Group and Prodigy Network have secured $75 million from ACORE Capital to refinance 17 John Street in the Financial District, the CO reported.

Unique Concept: The property contains five floors of co-working space (45,000 square feet), 81 extended stay hotel rooms, and ground floor retail.

Financing Details: The five year loan consolidates and replaces $66 million in construction financing. Acore also provided a $9 million gap mortgage.

Worth Noting: Prodigy, a crowdfunding platform, raised around $25 million for the deal.  

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