Grubb Properties Seals $377M in Financing for Financial District Resi Tower

Maxim Capital provided a $300 million senior loan, while GreenBarn, Skylight, Axonic and Meadow Partners co-originated $77 million in mezzanine financing for the 64-story skyscraper.

Grubb Properties just closed $377 million in construction financing for its 64-story property at 8 Carlisle Street, Commercial Observer has learned. In keeping with Grubb’s national multifamily brand, the property will be known as Link Apartments, and follows the development of Link Apartments QPN in Queens’ Long Island City, which completed construction last year.

The financing will facilitate the completion and lease-up of the building, which has been under construction for more than a year and is expected to top out in the next few weeks. The project’s total capitalization is around $500 million, sources familiar with the project said.

Read the full article here: Grubb Properties Seals $377M in Financing for Financial District Resi Tower  – Commercial Observer