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VI Attorney secures ‘tallest residential NY tower’ in $530M Property Deal

The Collas Crill’s VI team, was led by Partner, Ian Montgomery. Photo: Collas Crill
ROAD TOWN, Tortola, VI – The Collas Crill’s, Virgin Islands’ (VI) commercial team, has successfully provided legal advice to ‘Extell Development,’ on a $530 million loan package, to facilitate the purchase of Brooklyn Point—the firm's first development in Brooklyn, New York (NY), and currently the tallest residential tower under construction in the borough.

Located in Downtown Brooklyn, the 720-foot-tall skyscraper development at City Point, is the borough’s largest food, shopping and entertainment destination.

VI Team

The deal included a $425 million construction loan from a consortium of banks, led by M&T Bank, and a $105 million, mezzanine loan (a combination of debt and equity finance) from RXR Realty.

The Collas Crill’s VI team, was led by Partner, Ian Montgomery, who worked alongside Fried, Frank, Harris, Shriver & Jacobson LLP (New York) and Paul Hastings LLP (New York)—all  acting for Extell Development.

Collas Crill’s Jersey-based Associate, Conor Walsh, assisted on the transaction.

Partner Ian Montgomery, in a subsequent press release, on August 9, 2018, said, “Collas Crill is known as one of the leading offshore legal advisers on US real estate transactions and we were delighted to work with Extell Development on yet another high-profile development project in New York City.”

 

3 Responses to “VI Attorney secures ‘tallest residential NY tower’ in $530M Property Deal”

  • Yes (09/08/2018, 12:09) Like (4) Dislike (3) Reply
    hope they can also win cases at home lol
  • A man (10/08/2018, 18:41) Like (4) Dislike (0) Reply
    I like Ian, he is a good guy, but the amount of publicity they have garnered for a legal opinion is shocking. And he is not a VI based attorney, so query why someone in the Channel Islands needs to lead on a US opinion.
    • facts (11/08/2018, 07:52) Like (0) Dislike (2) Reply
      Get your facts straight Ian is based in the BVI he is the head of the Commercial team. I saw him at Island Roots not so long ago.


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