A joint venture between Jonathan Rose Cos. and BedRock Real Estate Partners has secured a $144 million contruction loan for the development of their new project, The Pierrepont apartment buildings. The two 19-story towers will face Pierrepont and Montague Streets in the Brooklyn Heights section of Brooklyn and will offer 86 uits and approximately 6,000 sqf of ground floor retail space. Santander Bank is providing the construction financing, with JD Capital, a public asset investment and advisory firm based in China, providing additional equity. Construction of The Pierrepont is expected to be completed in 24 months.
