Alloy secures $500M for “world’s tallest” passive house building

Developers of what is poised to be the world’s tallest passive house building in the world secured $500 million to get the project off the ground.  Alloy Development on Monday closed on $375 million in loans from Kayne Anderson Real Estate for One Third Avenue, a 583-unit tower planned for Downtown Brooklyn. Additionally, Vistria Group, in its first ground-up development, is infusing $120 million in equity and taking a majority stake in the project as a limited partner. Alloy, as general partner, will continue to lead development and is kicking in $40 million.    According to Alloy, the 730-foot tower is […]This article originally appeared on The Real Deal. Click here to read the full story.