Knighthead Funding breaks its own record with FL funding
Greenwich, CT-based company closes on its biggest loan since the companyʼs founding in 2014.
Category : Debt & Equity
Goldman Sachs antes up $61M for Hudson Yards homeless venture
Covenant House, a not-for-profit organization serving homeless youth, announced a $61 million mortgage loan from Goldman Sachs Urban Investment Group to redevelop its existing facility, at 550 10th Avenue in the Hudson Yards neighborhood, in partnership with Gotham Organization. Covenant House selected Gotham as its developer in 2018 to help...
Muss secures $90M financing for Renaissance Plaza in Brooklyn
Cushman & Wakefield, Inc. announced that it served as the advisor to affiliates of Muss Development, LLC and HomeFed Corporation in arranging $90 million of fixed-rate financing secured by a condominium interest in Brooklyn Renaissance Plaza located in Brooklyn, New York. The financing was provided by affiliates of LoanCore Capital...
Affordable package deal will save Jersey homes
A $14 million finance package has been secured for the preservation of Cooper Plaza Townhomes, an affordable housing community in Camden, New Jersey. All 64 townhouses will remain permanently affordable, serving households who earn less than 80 percent of the Area Median Income. Developer, The Michaels Organization. will carry out...
TRANSACTIONS: Eastern arranges $8.3M Brooklyn loan, GCP scores $11M in Yonkers financing
Eastern Union Funding announced the following transactions: • A $10,705,000 first lien mortgage for the acquisition of a 280-unit multifamily property in Little Rock, AR. This transaction was arranged by Meir Kessner and David Eisen. • An $8,300,000 first lien mortgage for the refinance of a multifamily property in Brooklyn,...
New Mountain Capital targets net lease sector
New Mountain Capital, an alternative investment firm headquartered in New York, has closed its first net lease real estate fund with $533 million of equity capital commitments. The haul includes $447 million of third-party limited partner commitments and approximately $86 million from the General Partner. The investors include pension funds,...
MRC shores up its purse with $1.1B from global investors
Madison Realty Capital (MRC) has raised $1.136 billion for its fourth debt fund. Adam Tantleff, managing principal, the institutional real estate debt investment vehicle exceeded its original target of $1 billion. He said MRC sourced capital from global investors from the United States, Europe, the Middle East and Asia, including...
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...
Partners land $95M financing for new Robert Stern-designed luxury condo
Midwood Investment & Development and EJS Real Estate have secured a $95 million construction loan from Bank OZK to finance the development of 25 luxury condos and ground floor retail space located at 150 East 78th Street on the Upper East Side. “This is the first time we’ve worked with...
Brodsky borrows on West End Towers
New York Life Real Estate Investors, on behalf of New York Life Insurance Company, announced the financing of a $55 million second mortgage loan secured by West End Towers, a 1,000 unit Class A apartment community in the Upper Westside of Manhattan. The apartment project is owned by an affiliate...