**GAIA Real Estate Extends Loan Maturity on Williamsburg Multifamily Property**
GAIA Real Estate has extended its $48 million loan with Raymond James Bank for its Williamsburg multifamily property, 55 Hope. The new maturity date of the loan is now set for August 23, 2026.
The New York City-based investment firm originally acquired the property during the height of the COVID-19 pandemic, a period when many investors and tenants were leaving the city. Despite the challenges, GAIA implemented strategic concessions for tenants and invested in significant property upgrades, including a renovated rooftop and a new co-working space. These enhancements helped stabilize the asset and set it on a path for long-term performance.
According to GAIA, the net operating income of 55 Hope has increased by 30% since the time of acquisition.
“We are proud to continue our partnership with Raymond James, which has supported us in realizing 55 Hope’s potential,” said Danny Fishman, CEO and cofounder of GAIA Real Estate. “This extension reflects both the strength of the property’s performance and our confidence in the market going forward.”
