PARTNERSHIP RECEIVES FINANCING FOR BROOKLYN MIXED-USE PROJECT

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NEW YORK CITY — A partnership between Cayuga Capital Management and Jacob Toll has received a $28.4 million acquisition and construction loan. The partnership is developing a mixed-used project on a 100,000-square-foot property, located at 76 N. 4th St. in Brooklyn. The new owners plan to convert the former steel factory into 83 loft-style apartments and 20,000 square feet of retail space. Aaron Appel and Micheal Diaz of Meridian Capital Group's New York City headquarters arranged the three-year loan through a regional balance sheet lender.

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