Clipper Equity taps familiar friend to refinance Flatbush development

Clipper Equity’s David Bistricer has a financing friend in MF1 Capital, which is providing debt for another of the developer’s projects. Clipper landed $170 million to refinance the 354-unit multifamily development at 2366 Bedford Avenue in Flatbush, Brooklyn, the Commercial Observer reported. The debt replaces a $140 million construction loan originated by Scale Lending two years ago. The construction financing from MF1 will support the completion of the multifamily building, part of a four-building complex being developed on the former site of a landmarked Sears. The building is expected to open this year after construction was originally slated to wrap […] This article originally appeared on The Real Deal. Click here to read the full story.