Cushman & Wakefield Arranges Refi for South Bronx Class A Multifamily
Cushman & Wakefield arranged a $26,350,000 loan on behalf of the JCAL Development Group to refinance The Bridgeline, a 91-unit Class A multifamily property located at 329 E. 132nd St. in the South Bronx. Webster Bank provided the two-year, fixed-rate loan.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Brad Domenico, Frank Stanislaski and Ethan Thompson secured the financing on behalf of the borrower.
“The Bridgeline benefits from a sought-after mix of high-quality Class A product that is situated on a transit-oriented site in The Bronx, affording residents easy access into Manhattan,” said Domenico. “Those fundamentals, combined with stabilized occupancy and amenities typically seen in higher-barrier submarkets, drove significant lender interest for this deal and, ultimately, a smooth close.”
Other News
University of Idaho Opens 451-Bed Student Housing Property
Gilbane and Rocky Mountain Companies, along with University of Idaho, celebrated the ribbon cutting of Vandal Village, a graduate and family housing complex on U of I’s Moscow campus. Located at 1010 Deakin Ave, the 200,000-square-foot complex encompasses 240 units, offering two- to four-bedroom plans. Designed to meet a range of housing needs, the development...
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LIHI Opens 90-Unit Tiny House Village in South Park
The Low Income Housing Institute (LIHI) has opened a 90-unit tiny house village in Seattle’s South Park neighborhood. Cloverleaf Tiny House Village at 9128 10th Ave. S. is LIHI’s largest village and will operate as a 24-hour shelter, reported the Puget Sound Business Journal. The Seattle-based nonprofit developed the project in partnership with New Direction...
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Historic Kansas City Country Club Plaza MF Asset Trades
Northmarq’s Kansas City Investment Sales team, led by David Belpedio, Jeff Lamott and Casey Wilhm, brokered the sale of The Robert Browning Apartments, a 64-unit mid-rise multifamily community located at 4809 Roanoke Pkwy. in Kansas City, Missouri. Northmarq represented the seller, Bellada LLC, in the transaction. The buyer is Bird Enterprises LLC. The seven-story, 36,248-square-foot...
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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