Ares Management (ARES) and JPMorgan Chase (JPM) are among the lenders providing a $525 million refinancing package for One High Line, a luxury condominium development in Manhattan, New York City's West Chelsea neighborhood, Bloomberg reported Friday.
The debt will allow developers Witkoff, Access Industries, and Monroe Capital to carry costs for the unsold units and fund the project's commercial space development, the report said.
Ares Management and JPMorgan Chase didn't immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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