The Moinian Group completed a new first mortgage loan and an extension of a mezzanine loan for The Ocean, a fully leased residential rental property located at One West St. in Downtown Manhattan. Robert Verrone of Iron Hound Management, as special consultant to the Moinian Group, arranged the financing along with Steve Bederman, executive vice president of The Moinian Group. Met Life provided the first mortgage for the property, while the mezzanine loan was provided by Deutsche Bank and Resource. The total amount financed was $150 million. With 492 residences ranging from studios to three bedrooms, The Ocean features a Venetian-style lobby, residents-only fitness center, on-premises valet, full-service business center and outdoor roof deck, among other amenities. The Moinian Group has also completed long-term loan extensions/restructurings at 17 Battery Pl. and 180 Maiden Ln. totaling more than $400 million. Verrone, special consultant to The Moinian Group, arranged the financing along with Bederman. Under an agreement finalized before the end of 2009, The Moinian Group's loan on 17 Battery Place was extended. The property is a 22-story office tower totaling 400,000 s/f. In a separate transaction also completed by year end, the lender group agreed to terms on the restructuring and extension of 180 Maiden Ln.'s mortgage and mezzanine loans. The property is a 1.1 million s/f office tower in the city's Financial District, which houses tenants such as AIG and the law firm Stroock & Stroock & Lavan. "We have confidence in Joe Moinian's ability to add value to the properties," said Marc Holliday, CEO of SL Green Realty Corp., which is a member of the lender group holding the loan on 17 Battery Pl., one of the two properties. The Moinian Group is widely regarded as one of the industry's most active development firms. Its team of seasoned professionals, hands-on management style and a strategic approach to investment and growth has armed the firm with the tools necessary to take advantage of the unique opportunities available in the real estate marketplace.