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New York Life Provides $250M Astoria Construction Financing
LMXD and BedRock Real Estate Partners have secured $250 million in Astoria construction financing for a major mixed-income development at 35-10 Steinway Street in Queens. According to Commercial Observer, the loan was provided by New York Life Investment Management’s real estate platform and arranged by JLL. The financing is intended to support both the acquisition and construction of the development. The development team acquired the site, which includes 35-18 Steinway Stree
ARCFE U.S.
21 hours ago2 min read
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$617 Million Multi-Tranche Capitalization Supports 8 Carlisle in Lower Manhattan
JLL Capital Markets has arranged a combined $617 million capitalization for two Grubb Properties-managed real estate investment trusts and Link Apartments 8 Carlisle, a large multifamily development in Manhattan’s Financial District. The transaction was completed through a coordinated three-phase process rather than a single project loan. It combined the formation and capitalization of a larger REIT platform with senior and mezzanine construction financing for Link Apartments
ARCFE U.S.
3 days ago3 min read
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