Developer Hudson closes on Brooklyn Heights Library site and $280M loan
The redevelopment of the Brooklyn Heights Library site has taken a major step forward with The Hudson Companies’ announcement that it has closed on the $52-million acquisition of the city-owned property.
Hudson has also closed on a $280-million first mortgage loan, the company said on Monday.
Starwood Property Trust, Inc. and Related Fund Management co-originated the loan, with Starwood Property Trust providing $200 million in financing and Related Fund Management providing the remainder.