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Regions Bank Affordable Housing closed on two transactions in support of HELP ONE, a two-building complex under development in East New York, Brooklyn

Regions Bank Affordable Housing Arranges Equity for East New York Development 

Regions Bank said Monday it had closed on two transactions to support a transformational building initiative in Brooklyn. The initiative is led by HELP USA, a national housing nonprofit addressing the needs of individuals and families experiencing homelessness. 

Financing from the transactions is aiding in the development of HELP ONE Buildings A & B. The buildings are part of what will become a four-building development occupying an entire city block along Blake Avenue in East New York.  

Regions’ Affordable Housing division supported the development by arranging $62 million in equity, provided by BNY Mellon. Upon completion, Building A will consist of 184 apartments with Building B comprising 71 apartments.  

“This collaboration with HELP ONE is a direct reflection of how Regions Affordable Housing makes meaningful investments in communities across the country,” said Victor Sostar, EVP and origination team manager, Regions Affordable Housing. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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