multifamily

Sponsors Charney Companies and Tavros are set to build a 55-story skyscraper in New York’s Long Island City submarket.

Residential-related lending strategies are increasingly taking hold among real estate investment managers.

The funding will be used by Republic Properties to add a multifamily asset to the existing Portals mixed-use development south of the National Mall.

The deal is the largest office-to-resi conversion in New York city history 

The targeted $2bn venture with Castlelake will allow Invictus to further scale its lending platform.

The loan package consists of a $113.8m Freddie Mac loan and a $15.6m preferred equity investment.

The senior and mezzanine debt will be used by Tavros Capital and Charney Companies to acquire and pre-develop a 1,000-unit project in the Gowanus neighborhood.

Property Markets Group will use the funding to build a two-tower, mixed-use project in the city’s Brickell neighborhood.

The manager-developer partnership is targeting $200 million in preferred equity and mezzanine investments across multifamily and industrial sectors 

The Connecticut-based lender is helping recapitalize a 70-acre mixed-use community in Sleepy Hollow on behalf of King Street Capital Management and Biddle Real Estate Ventures.