Quadrum, Simon Baron get $150M AIG loan for LIC tower

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Simon Baron Development scored $201M from a group led by AIG Investments. The financing went to the developer’s deal to buy out Quadrum Global’s interest at ALTA LIC, The Real Deal reports. The.

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Square Mile Capital Management has made a $138.5 million preferred equity investment in Simon Baron Development ‘s 43-story residential tower called Alta LIC, as part of the property’s recapitalization, according to an alert from Square Mile.

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Quadrum Global and Simon Baron Development obtained a $150 million construction loan for their 42-story Long Island City rental project, the developers told The Real Deal. AIG is serving as the.