$30M Refinancing for The Henry at One Crystal Hill Dr. in Pomona, NY

Ares Management provided a $30.15 million loan to refinance The Henry, a community of 169 garden apartments. Spirit Investment Partners and The Bascom Group will use the three-year, floating-rate loan to give them more time to raise the income from the property at One Crystal Hill Dr. in the Rockland County community of Pomona, NY.

“Spirit and Bascom have repositioned The Henry to top-of-the-market quality. The financing opportunity generated significant interest and multiple term sheets, which will allow Spirit and Bascom to continue to extract value from the property for several more years,” said Jamie Leachman, senior director for Holliday Fenoglio Fowler (HFF), who with Jamie Leachman and Nicole Brickhouse represented the borrowers.

Originally constructed in 2001, the 12.1-acre property has undergone a full renovation during the past four years.

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