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JLL Arranges $104M Financing for Uptown Multifamily Portfolio
JLL Capital Markets arranged $104 million in refinancing for a 233-unit multifamily portfolio comprising Renoir House at 225 E. 63rd St. on Manhattan’s Upper East Side and 120-125 Riverside Dr. on the Upper West Side. Senior managing director Scott Aiese, managing directors Lauren Kaufman and Hall Oster and director Alex Staikos represented AYA New York in securing the financing through Citi.
The two-property portfolio encompasses approximately 185,177 rentable square feet across two of Manhattan’s most established residential neighborhoods. The properties were approximately 97% occupied at the time of financing underwriting and benefit from proximity to Central Park, Riverside Park, major transportation hubs and neighborhood amenities.
“This financing reflects continued lender confidence in well-located Manhattan multifamily assets and experienced sponsors with demonstrated operating expertise,” said Aiese. “AYA New York has made significant investments in both properties, and Citi’s financing will support the sponsor’s long-term ownership strategy and continued enhancement of the portfolio.”
- ◦Financing
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