Walker & Dunlop Arranges $285M Refi on Greenpoint Apartments
Walker & Dunlop, Inc. said Monday it arranged a $285,000,000 bridge loan to an affiliate of Madison Realty Capital to refinance Greenpoint Central, a newly built, 473-unit Class-A multifamily property located at 65-75 DuPont St. in Brooklyn’s Greenpoint neighborhood. Walker & Dunlop Capital Markets Institutional Advisory, led by Sean Reimer, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Ari Hirt, Cole Grims and Nicholas Gilhooley, arranged the loan from TPG Real Estate Credit.
Comprising two ground-up developments on the former Nuhart Plastics Manufacturing site, the property includes studio, one- and two-bedroom apartments, with 70% market-rate and 30% affordable units developed through the Affordable New York 421(a) Option C program and the Inclusionary Housing program. The property also features 19,589 square feet of retail space on the ground floor and cellar level.
Reimer said, “We’re proud to represent Madison Realty Capital in refinancing this construction loan, supporting funding reserves, closing and the return of equity to investors.”
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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
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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