Market News

Natixis Originates $60M Refi for Brooklyn Asset

Time : July 02,2021 Source:

Trinity Place Holdings has received a $60 million loan for its 105-unit Class A multifamily property in Brooklyn, N.Y. The floating-rate refinancing package was originated by Natixis and brokered by Meridian Capital Group. Earlier this year Meridian Capital partnered with Barings to form a new lending platform.

Kings County public records show that the new funding will retire two loans originated by the Canadian Imperial Bank of Commerce, a $52.4 million mortgage and a $4.3 million building loan.

Located at 237 11th St. near the border of Brooklyn’s Park Slope and Gowanus neighborhoods, the community comprises a mix of studio, one-, and two-bedroom apartments. The 12-story building was completed in 2017 with a ground floor dedicated to retail that is currently occupied by a Starbucks and a medical office. The property offers residents an exercise room, common courtyard, garden and roof deck.

The building is one block from the 4th Avenue-9th Street subway station, which provides access to the R, F and G lines. The property is less than a mile from Prospect Park and a mile and a half from Barclays Center.