Kasowitz Represents KT Capital Group in $40 Million Loan for Professional Soccer Stadium in Rhode Island
Kasowitz Benson Torres represented KT Capital Group, a leading private investment firm, in the closing of a $40 million EB-5 loan to Fortuitous Partners, a real estate investment firm, to fund the construction of Tidewater Landing’s stadium in Pawtucket, Rhode Island. The overall financing for the stadium also consists of bonds issued by the Pawtucket Redevelopment Agency, a bridge loan from Lincoln Savings Bank and C-PACE financing. The stadium will be home to the Rhode Island FC, a professional soccer club in the United Soccer League (USL) Championship. Scheduled to be completed in March 2025, the stadium will also be the hub of a $284 million mixed-used complex with residential, retail and office space.
The Kasowitz team representing KT Capital Group was led by real estate transactions partner Darwin Huang and includes partner David Szeker, Special Counsel Matthew S. McElroy and associate Kathleen M. Maurer.