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Construction Financing Arranged for Queens MXU Dev

HFF arranged $61.5 million in construction financing for the development of Roosevelt Parc, a 15-story, transit-oriented, mixed-use project located in the Jackson Heights neighborhood of Queens, New York. The HFF debt placement team worked on behalf of the borrower, an affiliate of Werber Real Estate, to secure the floating-rate construction loan through Principal Global Investors.

Werber Real Estate is developing the 14-story complex with Socius Development Group. The project consists of 154 residential units, 16,557 square feet of retail space, 23,074 square feet of community facility space, and is anticipated to deliver by 2020. Located at 71-17 Roosevelt Ave., with the residential entrance at 37-46 72nd St. in Jackson Heights, the site is within one block of the Jackson Heights – Roosevelt Avenue subway station.

HFF’s Steven Klein and Geoff Goldstein represented the borrower.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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