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Kriss Capital Provides $45M Condo Inventory Loan for South Williamsburg Collection
Kriss Capital has provided a $45-million condominium inventory loan to Xin Development Group, the developer of the Oosten/The Reserve, a collection of luxury new condo units, lofts and townhomes at the South Williamsburg waterfront development.
Vanadium Realty LLC, a Manhattan-based real estate development and investment firm headed by r Stephen Muller, represented the borrower, securing the inventory loan through Kriss Capital, a New York-based real estate bridge lender with a focus on residential ground-up development, renovation, adaptive reuse, and condo inventory debt strategies.
“Leveraging our firsthand understanding of residential development along with our global network of relationships, Vanadium was able to quickly arrange the right capital and terms to meet borrower objectives.” Muller said. “Kriss Capital was excellent to work with; we closed on the initial terms quoted and ahead of schedule. It also didn’t hurt that Oosten /The Reserve include some of the finest homes in the Williamsburg market.”
- ◦Financing
