NEW YORK, NY – Joint-venture partners ZG Capital and Rialto Capital Management have secured a $175 million capitalization for the acquisition and renovation of a 20-story, premier office tower located at 45 E. 53rd St. in Midtown Manhattan.
ACRES Capital provided the loan to finance the acquisition and fund the comprehensive renovation plan, and Newmark arranged the future capitalization for the firms. Of the capital, $120 million will…
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