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Bay Shore Residential Project Secures $168M of Debt and Equity
JLL Capital Markets arranged $55 million in joint venture equity and $113 million in construction financing for the development of Bay Shore Residences, a 418-unit, wood-frame residential building with ground-floor retail in Bay Shore, NY, within Long Island’s Suffolk County
The JLL Capital Markets team of Andrew Scandalios, Rob Hinckley, Jeffrey Julien and Nicco Lupo worked on behalf of TRITEC Real Estate Company to arrange the JV equity partnership with institutional investors advised by J.P. Morgan Asset Management.
The firm’s Michael Gigliotti, Geoff Goldstein, Kelly Gaines and Jackie Ferrer sourced the four-year, floating rate construction loan with Truist Financial Corporation and Santander Bank.
Located at 1700 Union Blvd., the highly accessible property is a one-minute walk from the Long Island Rail Road and is less than a one-hour train ride to Penn Station, providing direct access into Manhattan.
- ◦Development
- ◦Financing

