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News  ›  GlobeNewswire Inc.

Greystone Capital Advisors Arranges $250 Million in Bridge Financing for 456-Unit Mixed Income Rental Development in Brooklyn, NY

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Greystone
Greystone Capital Advisors Arranges $250 Million in Bridge Financing for 456-Unit Mixed Income Rental Development in Brooklyn, NY

Greystone Capital Advisors arranged $250 million in bridge financing for AtlanticBK, a newly delivered 456-unit mixed-income residential development in Brooklyn. The refinancing replaced Wells Fargo's original $185 million construction loan, providing added flexibility and lower cost of capital to support lease-up and stabilization of the luxury rental community developed by Douglaston Development.

Insights
WFC   neutral

Originated both the original construction loan and the new bridge loan, maintaining the lending relationship. No negative or particularly positive developments indicated.