Naftali Credit Partners, a subsidiary of Naftali Group, recently closed on a pre-development financing loan for 8 Carlisle St. in Lower Manhattan’s Financial District. This marked the second deal of its recently closed second credit fund and provided $48 million to Grubb Properties, a North Carolina-based property firm. The proceeds were used to refinance an existing land loan and will contribute to future carrying costs over the life of the facility with Naftali Credit Partners finalizing documentation for senior participation in coming weeks.
Glenn Grimaldi, CEO of Naftali Credit Partners commented “We are confident with our financing in 8 Carlisle St., as we believe it is vital to continue helping reliable borrowers access capital during this time when they need it most.”
8 Carlisle St., situated two blocks south from World Trade Center near West Side Highway, Fulton Transit Center and World Trade Center Oculus will be 64 stories tall comprising 400 rental units along with ground floor retail space expected for completion by 2026
