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Washington DC & Mid-Atlantic  + Pennsylvania  + Apartments  |  May 29, 2025
Jasmine Kilman
By: Jasmine Kilman

Newmark Secures $72M from Barings for Pittsburgh Luxury Apartments

Newmark has arranged a $71.85 million loan on behalf of owner and developer, SomeraRoad, to refinance The Park at SouthSide Works, a newly constructed, highly amenitized seven-story luxury multifamily property in Pittsburgh, Pennsylvania.

The financing was secured from Barings by Newmark’s team comprising Jordan Roeschlaub, Nick Scribani, Chris Lozinak and Sam Speciale. Completed in late 2024, the property features 247 units with a mix of junior one-bedroom apartments through two-story townhome units.

Located on one of the few remaining waterfront parcels in downtown Pittsburgh, the property provides direct access to major employment and entertainment hubs just steps away in SouthSide Works and in Oakland, and downtown via the Hot Metal Bridge and Penn Lincoln Parkway. The Park at SouthSide Works is strategically located in close proximity to UPMC, Carnegie Mellon, and The University of Pittsburgh.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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