Maxim Capital Lends $53M on Windsor Terrace Development

A joint venture between Dornin Investment Group (DIG) and Torchlight Investors has secured fresh capital for a nearly completed Brooklyn multifamily development four months after purchasing the property’s nonperforming note.

Maxim Capital Group provided $53.2 million of senior participation financing for DIG and Torchlight’s purchase of the debt tied to the 131-unit apartment project at 57 Caton Place in Brooklyn’s Windsor Terrace neighborhood, Commercial Observer has learned. DIG in partnership with Torchlight acquired a nonperforming senior loan secured by the development for $78 million in December, CO first reported at the time.

Read full article here: Maxim Capital Lends $53M on Windsor Terrace Development – Commercial Observer