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Debt & Equity

Rialto antes up $97M loan for PMG

Holliday Fenoglio Fowler (HFF) announced it has secured $97.1 million in financing for 111 Leroy, a boutique luxury condominium development in the West Village.

HFF worked on behalf of the developer, Property Markets Group (PMG), to arrange the two-year, floating-rate financing through Rialto Capital Management.

Loan proceeds were used to finance unsold condo inventory at the development, which consists of 13 residences and four townhouses totaling 50,000 sellable square feet.

HFF previously secured construction financing for the project, which is now in the final stages of development.

111 Leroy consists of 18 residences within a 10-story, mid-rise tower at the corner of Greenwich Street in the West Village. The studio through four-bedrooms range from 506 to 3,370 s/f and the project’s five three- and four-story townhouses include multiple private terraces with fire pits, outdoor kitchens, hot tubs and private elevators.

The HFF debt placement team included managing director Christopher Peck and analyst Kristen Knapp.

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