Financing the $142M Bronx Apartment Deal
The $142 million financing package came from multiple sources. Citibank led the charge with $108.9 million, while the New York City Department of Housing Preservation and Development (HPD) contributed $30.9 million. Merchants Capital Corp. rounded out the funding with a $2.25 million Freddie Mac loan, according to county filings released Friday.
Legal Teams Behind the Transaction
The legal heavy lifting reflected the scope of the deal. BRC was represented by Juan C. Restrepo of Richter Restrepo PLLC. Merchants Capital Corp. turned to Toni S. Jordan of Blank Rome LLP, while NYC HPD was advised in-house by its Office of Legal Affairs.
