J.P. Morgan Investment Management has successfully obtained $165 million in financing for 776 Avenue of the Americas, also known as The Capitol. This impressive 39-story multifamily building is located in Midtown and was financed by Northwestern Mutual Life Insurance, along with a senior loan of $118 million from PGIM Real Estate and a gap mortgage of $46.9 million.
The Capitol, which consists of 387 units and spans over 454,538 square feet, has been a significant investment for J.P. Morgan Investment Management since its acquisition in 2012 with an initial loan from HSBC Bank worth $130 million. The building offers luxurious amenities such as a round-the-clock concierge service, state-of-the-art fitness center, rooftop lounge area, dog washing station,movie theater,and valet services.
This recent refinancing news highlights the continued success and growth of this premier rental tower without mentioning any specific organizations or locations.
