residential

A niche is emerging for alternative lenders – financing New York’s growing pipeline of office-to-residential conversions.

In the strategies debuting between January and May, established managers sought to expand existing platforms with senior and subordinated debt offerings.

The Boston-based investment manager believes there is a financing gap in this segment of the market. 

The funding will be used to build the final component of a community in Hallandale Beach, Florida, focused on residential, retail and dining.

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

Charney Companies will use the debt to build a 45-story, 182-unit tower at 95 Rockwell Place in the Fort Greene submarket.

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.

The four-year loan will be used by LV Collective to replenish capital backing Rambler Athens, a 750-bed complex adjacent to the University of Georgia.

A March report from Zillow said there was a roughly 4.5-million-unit housing shortage in the US at the start of 2025.