First Citizens Bank has recently announced that its Commercial Real Estate division has provided a senior secured loan of $74 million to Lonicera Partners. The loan will be used for the development of a 23-story, Class A multifamily building located at 310 Livingston Street in Downtown Brooklyn. This impressive building features 160 luxurious apartments and over 8,600 square feet of ground-floor retail and amenity space.
According to Ted Dalton, managing director at First Citizens Commercial Real Estate, they are thrilled to collaborate with Lonicera once again in supporting their expanding portfolio of strategic multifamily projects. He also added that the location of this property in the rapidly growing area of Downtown Brooklyn makes it an invaluable asset for Lonicera’s portfolio. Additionally, its state-of-the-art amenities provide convenience and luxury living experience for residents.
Founded in 2010, Lonicera Partners specializes in residential developments within Downtown Brooklyn while First Citizens Commercial Real Estate focuses on providing senior secured financing solutions for single properties as well as property portfolios and loan portfolios.
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