Project Overview
Project Overview
Project Overview
Location
Brooklyn
Location
Brooklyn
Number of Units
497 Units, 28 Stories
Number of Units
497 Units, 28 Stories
Loan Amount
$210,000,000
Loan Amount
$210,000,000
Asset Type
Mixed Use
Asset Type
Mixed Use
Transaction Challenges:
» Large construction loan in a pioneering market that doesn’t have directly relevant comps » Uncertainty around 421a / 485x legislation at the time » Multi-phased development with contingent additional capital needs
Transaction Challenges:
» Large construction loan in a pioneering market that doesn’t have directly relevant comps » Uncertainty around 421a / 485x legislation at the time » Multi-phased development with contingent additional capital needs
ArrowREA Solution:
» The team structured a $210MM incremental loan with a debt fund, with an upsize to $250MM if the Sponsor finalized a forward sales contract for the commercial space. This allowed the Sponsor to quickly capitalize construction costs while maintaining optionality in their business plan.
ArrowREA Solution:
» The team structured a $210MM incremental loan with a debt fund, with an upsize to $250MM if the Sponsor finalized a forward sales contract for the commercial space. This allowed the Sponsor to quickly capitalize construction costs while maintaining optionality in their business plan.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.