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Dermot Refis Upper West Side Luxury Apts. via KKR
The Dermot Company, in partnership with Affinius Capital and PGGM, obtained a refinancing loan from KKR for 101 West End Ave., located on Manhattan’s Upper West Side. Although the loan amount was not disclosed, it replaces a $260-million mortgage from Helaba in 2018.
Meridian Capital Group was exclusively retained to secure financing on behalf of the joint venture. “This trophy property, with its strong tenant base and world-class sponsorship, was an ideal candidate for refinancing in this challenging capital markets environment,” said Rael Gervis, senior managing director at Meridian.
Built in 1999, 101 West End Ave. is a 35-story, 502-unit, luxury rental building. Dermot recently completed a significant renovation program to the units and common areas.
“KKR understands our business plan and the value of this highly amenitized and well positioned property – we are thrilled to have them as our lender,” said Andrew Levison, COO and managing director at Dermot.
- ◦Financing
