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Regions Bank Affordable Housing Arranges Equity for East New York Development
Regions Bank said Monday it had closed on two transactions to support a transformational building initiative in Brooklyn. The initiative is led by HELP USA, a national housing nonprofit addressing the needs of individuals and families experiencing homelessness.
Financing from the transactions is aiding in the development of HELP ONE Buildings A & B. The buildings are part of what will become a four-building development occupying an entire city block along Blake Avenue in East New York.
Regions’ Affordable Housing division supported the development by arranging $62 million in equity, provided by BNY Mellon. Upon completion, Building A will consist of 184 apartments with Building B comprising 71 apartments.
“This collaboration with HELP ONE is a direct reflection of how Regions Affordable Housing makes meaningful investments in communities across the country,” said Victor Sostar, EVP and origination team manager, Regions Affordable Housing.
- ◦Development
- ◦Financing

