LICH developer bags $297 million construction loan
After a lull period, the acceptance of a $297 million construction loan to Fortis Property Group for its redevelopment at the former Long Island College Hospital (LICH) site in Cobble Hill marks the way for construction of three residential buildings to continue, according to The Real Deal.
Madison Realty Capital lent the sum that Fortis plans to use to complete construction at 350 Hicks St., 95 Pacific St. and 249 Henry St.
Madison was the same firm that provided the $107.3 million for Fortis to buy the site in 2015.