RXR Nabs $269M Refi for White Plains Apartments
RXR has secured approximately $269 million in refinancing for Hamilton Green, a newly delivered and nearly fully leased, 477-unit Class A multifamily community located at 5 Cottage Pl. in downtown White Plains, NY. The owner and developer co-operates the property with Korman Communities.
The funds were provided by a group of institutional lenders, including Blackstone Real Estate Debt Strategies and Canyon Partners Real Estate. The refinancing follows the completion and rapid lease-up of the two-building development over nine months after opening.
“The successful refinancing of Hamilton Green reflects the strength of the RXR platform and our ability to execute across the full lifecycle of a complex development—from entitlement and construction through lease-up and stabilization,” said Scott Rechler, chairman and CEO of RXR. “The property’s strong performance underscores the depth of demand for well-located, high-quality housing in transit-oriented suburban markets and reinforces our conviction in the long-term fundamentals of the Westchester market.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout