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LONG ISLAND CITY, N.Y. — TF Cornerstone has closed on a $265 million construction loan to refinance a 40-story residential tower, located at 4545 Center Blvd. in Long Island City, N.Y. The 820-unit rental building is one of four new buildings at TF Cornerstone's waterfront development named East Coast. Construction of the latest tower, 4545 Center Blvd., has already begun. Completion is expected in 2013. The project will include 12,300 square feet of retail space and a 1,000-space parking garage. Wells Fargo, M&T Bank, Bank of America and Capital One provided the loan.