Invictus Real Estate Partners has secured a $69 million pre-TCO bridge loan for Mason Gray, a 158-unit residential property in Brooklyn’s Crown Heights. This financing will support the final stages of construction for the seven-story building at 959 Sterling Place, allowing leasing to begin. The loan was arranged by Mike Diaz and Aaron Appel from Walker & Dunlop.
Mason Gray, developed by Hope Street Capital, offers modern amenities including a fitness center, co-working spaces, residents’ lounge and game room, outdoor patio and private landscaped courtyard. The property features 110 market-rate apartments with mostly one-bedroom units as well as 48 units under New York City’s Affordable Housing Program.
According to Eric Scheffler – co-founder and managing partner of Invictus – their company remains a reliable partner for sponsors through customized construction and bridge loans even in today’s challenging credit market. This sets them apart from traditional bank offerings that follow a “one-size-fits-all” approach.
The article titled “Invictus Provides $69M for BK Resi Property” highlights Invictus Real Estate Partner’s recent achievement in securing funding for Mason Gray without mentioning specific locations or brands such as Connect CRE or Connect LA/Texas.
