Mezzanine Land Financing
Sherwood contributed $13m of mezzanine acquisition financing for Domain Companies’ acquisition of 420 Carroll Street. Sherwood helped bring in a senior lender with whom Sherwood had prior experience. The senior and mezzanine financing represented 78% of the site’s purchase price. 420 Carroll Street is a 130,000 FAR site on the Gowanus Canal that is expected to be upzoned.