Siguler Guff Secures $29.9M Financing for Luxury Apartments
Siguler Guff Closes Significant Financing for Luxury Development
Siguler Guff & Company, LP, a respected multi-strategy private markets investment firm, has successfully concluded a $29.9 million financing package. This funding will support the construction of a stunning luxury apartment development at 70 Westchester Avenue. The anticipated project promises to introduce 203 upscale residential units designed to elevate the living experience in the area.
Financing Details and Structure
The financing package encompasses a mezzanine construction loan and a bridge loan backed by Brownfield Tax Credits. Notably, this project has earned its place in New York's Brownfield Cleanup Program. The program incentivizes the rehabilitation of contaminated properties, promoting sustainable investment practices. Siguler Guff's contribution is part of a larger $96 million senior loan that ensures robust fiscal support for the developers.
Key Contributors Behind the Project
Jose Mayoral, the Vice President of Real Estate at Siguler Guff, expressed optimism regarding this venture. He stated, "It is an honor to finance such a skilled development team. Saber Real Estate North, LLC, and Cord Meyer Development have both demonstrated exemplary performance in previous projects. We are committed to revitalizing spaces through our financing and showcasing White Plains as an attractive destination for living and investment opportunities."
A Bright Vision for White Plains
The development is spearheaded by a collaborative effort between Saber Real Estate North, LLC, and Cord Meyer Development. This joint venture aims to create an inviting residential community equipped with modern amenities, including rooftop lounges, an outdoor swimming pool, a fitness center, a dog park, and concierge services. Once complete, these luxury units are expected to significantly enhance the housing landscape of White Plains.
About Siguler Guff
Founded in 1991, Siguler Guff has established itself as a leader in multi-strategy private markets investments, managing over $17 billion in assets. The firm leverages a diverse range of investment strategies, focusing on areas such as private credit, special situations, small business private equity, real estate, and emerging markets. In its real estate endeavors, Siguler Guff has invested nearly $3.5 billion into various assets since 2009, targeting profitable opportunities across the spectrum.
Real Estate Expertise and Market Impact
The dedicated Real Estate Team at Siguler Guff excels in originating senior, mezzanine, and preferred equity investments across the country. With a strong track record of over nine years at the firm, the team prioritizes efficient execution and innovative structuring while collaborating with institutional borrowers. Their proactive approach has reinforced Siguler Guff's reputation as a trusted partner in the real estate sector.
Contact Information for Siguler Guff
For further inquiries or more information about Siguler Guff's operations and investment strategies, please contact:
Jeffrey Taufield / Jennings Brooks,
Kekst CNC,
212.521.4800,
Frequently Asked Questions
What is the total financing amount secured by Siguler Guff?
Siguler Guff has secured a total financing package of $29.9 million for the development project.
What amenities will the new luxury apartments offer?
The new luxury apartments will feature rooftop lounges, an outdoor pool, a fitness center, a dog park, and concierge services.
Who are the developers working on this project?
The project is being developed by Saber Real Estate North, LLC, and Cord Meyer Development.
Where is the apartment development located?
The luxury apartment development is located at 70 Westchester Avenue in White Plains.
Since when has Siguler Guff operated in the investment industry?
Siguler Guff has been operating in the investment industry since 1991, accumulating a wealth of experience over the years.
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