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Midtown Equities secures construction financing for 10 South Street

Midtown Equities + Centaur Properties + Cipriani S.A have secured $80 million in construction financing from ACORE Capital for its redevelopment of the Battery Maritime Building at 10 South Street, according to the CO. The duo plan to convert the FiDi property into a luxury hotel and a Cipriani-branded event venue.

  • Financing details: The floating-rate loan package includes $60 million in mortgages, and $20 million in mezzanine debt.
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