Real Estate Weekly
Image default
Debt & Equity

HKS hits $60M home run

HKS Capital Partners brokered $66 million permanent financing on a Westchester apartment building — a 416-unit multi-family rental complex at Ridgeview Apartments at 32 Nob Hill Drive in Elmsford.

The seven-year loan from Cantor Commercial Real Estate will be securitized.


Ayush Kapahi of HKS brokered the transaction. He said the loan’s rate was “in the fours” and features a three-year interest-only period.

The ownership entity, Ridgeview Partners LLC, is led by Stephen Reitano, the former deputy executive director of the Metropolitan Transportation Authority.

“The deal had many moving parts which required us to retain the right firm and we did,” said Reitano

The owners bought the building in 2010 for $58 million, assuming $50 million in debt, said Kapahi. “With this mortgage they were able to take out equity,” he said. “They took over management and did renovations and really hit a home run with the deal.”

(Visited 1 times, 1 visits today)

Related posts

Slate funds $48M construction loan for New Rochelle development


Square Mile loans $47M for Syracuse student housing acquisition


Fairstead investors pump $500M into next growth spurt