Triple Five Group closes construction financing for $1.67bn mixed-use project

WCN Editorial Team 24 May 2017 NORTH AMERICA BUSINESS

Triple Five Group of Companies has closed on its $1.67bn private construction financing for the American Dream project in Bergen County, New Jersey.

The entertainment, dining and shopping destination will encompass multi-million square foot and is expected to open in March 2019.

The project will accommodate the DreamWorks Water Park and Nickelodeon Universe Theme Park, the Big Snow Indoor Ski & Snowboard Park, a 1,350-capacity Cirque Du Soleil theatre, an Observation Wheel, luxury movie theatres by Cinemex, Sea Life Aquarium, Legoland Discovery Center, Kidzania, an 18-hole miniature golf course and an NHL-size ice rink. The property will also feature restaurants and retail space.

American Dream president and CEO Don Ghermezian said: "We are pleased to have worked with J.P. Morgan and Goldman Sachs on the financing for this transformation project. The construction loan paves the way for the completion of American Dream and allows us to aggressively move forward with the construction and opening of the project."

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