We advised Brookfield Properties on the refinancing of an existing construction loan

Davis Polk advised affiliates of Brookfield Properties Development LLC in obtaining approximately $360 million in mortgage loan financing provided by QuadReal Finance, Inc. The proceeds will be used to refinance an existing construction loan and to fund the operation, maintenance and leasing of the mixed-use development commonly known as Fifth & Broadway in Nashville, TN. The Fifth & Broadway complex includes an approximately 1,357,495 square foot mixed-use facility within two condominium regimes, consisting of 381 rental apartment units, approximately 194,486 square feet of retail space, approximately 367,686 square feet of office space and approximately 2,180 parking spaces.

Brookfield Properties develops and operates real estate investments on behalf of Brookfield Asset Management — one of the largest alternative asset managers in the world. From office to retail, logistics to multifamily and hospitality to development, Brookfield Properties works across sectors to bring high-quality, sustainable real estate to life around the globe every day.

The Davis Polk real estate team included partner Brian D. Hirsch and associates Elizabeth A. Case, Gregory D. Crane and Edward Peck. Partner Po Sit and associate Lex L. Varga provided tax advice. Counsel Charles Shi provided executive compensation and ERISA advice. Counsel David A. Zilberberg provided environmental advice. Counsel Sarah E. Kim provided 40 Act advice. Counsel Daniel E. Newman and associate Justin Levine provided FIG advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post