Greystone Capital and Black Bear Asset Management Plan Lehigh Valley Residential Project
A joint venture between Greystone Capital and Black Bear Asset Management (BBAM) is currently seeking a $75 million construction loan to support a large-scale residential development in Pennsylvania’s Lehigh Valley. The loan will be used to retire existing debt and finance the future development of the site.
Black Bear Capital Partners (BBCP), a subsidiary of BBAM, is serving as the debt advisor and is actively marketing the loan. Greystone Capital will oversee the development and operations of the project, while BBAM is contributing the equity capital.
The venture recently acquired a 31-acre site located at 1492 Van Buren Road. Plans for the site include the construction of 320 multifamily units spread across seven garden-style buildings, along with 92 for-sale townhomes. The fully entitled project is expected to break ground in early 2026.
BBCP played a key role in facilitating the land acquisition, securing an 18-month, $6 million senior loan with Stormfield Capital. Additionally, BBAM and Carlton Associates, Inc. are providing $5 million in preferred equity financing and a $7.57 million credit facility. Together, the financing package represents 90% loan-to-cost and will support both the land purchase and the advancement of site work in preparation for construction.
