By Joshua Burd
An investment firm has closed nearly $90 million in financing for the development of a large mixed-use project in Harrison, according to a legal team with Cole Schotz PC.
The law firm represented the lender, Invictus Real Estate Partners LLC, in connection with the construction and bridge loan to Eastone Equities LLC. The borrower will use the proceeds for what’s known as Harrison Yards, a two-phase project along Frank E. Rodgers Boulevard.
Phase one includes the development of 205 residential units, 7,670 square feet of commercial space and 218 parking spaces at 700 Frank E. Rodgers Blvd. South, Cole Schotz said. The second piece will comprise 898 residential units, 204,709 square feet of retail space, 1,350 parking spaces and a 200-key hotel at 600South Fifth St.
Cole Schotz Member Jordan A. Fisch led the team advising on the $89.5 million loan, working alongside members Matthew S. Schneid, Wendy M. Berger, Jill B. Richardson, Catherine E. Bostock and Robyn A. Pellegrino and associates Cristina M. Riggio, Isabelle R. Jacobs, Aaron Brotman and Nicole Dlugosz.