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Watermark Capital has landed a $210 million construction loan for a 28-story high-rise comprising 497 units in Brooklyn, N.Y. The company obtained the funds alongside joint venture partner Rubin Equities, according to Commercial Observer. S3 Capital originated the debt, while Arrow Real Estate Advisors brokered the deal on behalf of Watermark.

Prestige Construction will serve as the general contractor for the project slated to rise at 6208 Eighth Ave. Completion is expected within two years, the same source shows. The tower will feature a gym, coworking spaces, a rooftop terrace, bike storage, a sauna and a screening room, as well as more than 100,000 square feet of retail space.