JLL Capital Markets successfully secured $173 million in bridge financing for Lorimer House, a mixed-use development located at 28 Boerum St. in the vibrant South Williamsburg neighborhood of Brooklyn. The joint venture behind the project, consisting of The Loketch Group, The Joyland Group and Meral Property Group, entrusted JLL to secure this financing through TPG Real Estate Credit.
Leading the team representing the borrower were Aaron Niedermayer and Ethan Stanton from JLL Capital Markets. According to Niedermayer, “This financing is a testament to the appeal of high-quality multifamily properties in New York City among investors.”
Designed by ODA Architects, Lorimer House stands eight stories tall and offers 270 units ranging from studios to two-bedroom apartments with private outdoor spaces available. Residents will have access to various amenities such as indoor/outdoor lounges, fitness facilities,bike storage,petspa,and underground parking.Additionally,the building features a party room,a work-study lounge,and an expansive rooftop deck for residents’ enjoyment.
