EJS Group JV Secures $138M Refi for Brooklyn Community
The property came online last year.
Developers EJS Group and Hope Street Capital have secured a $137.5 million refinancing loan for 12 Halsey, a 240-unit community in Brooklyn’s Bedford-Stuyvesant neighborhood. AllianceBernstein issued the three-year, floating-rate debt package in a transaction arranged by Walker & Dunlop.
The refinancing retires a construction loan package amounting to $108.2 million, issued in 2023 by Bank OZK and CanAm Enterprises.
Recent noteworthy multifamily refinancing deals in Brooklyn include the $370 million bridge loan The Carlyle Group and Property Markets Group received for the 517-unit Society Brooklyn, a community in the Gowanus neighborhood. Similarly, this spring, Naftali Group and Access Real Estate obtained $374 million from Barings to recapitalize the first phase of Williamsburg Wharf, which features 89 condominiums and more than 500 rental units.
A newly delivered Bed-Stuy property
The two-building community rises 10 stories and came online in 2025. Under New York’s affordable housing program 421-a, 12 Halsey features 72 income-restricted units. The property has studio, one- and two-bedroom layouts ranging from 481 to 1,207 square feet, along with 2,400 square feet of ground-floor retail space. Shared amenities include a fitness center, swimming pool, community room and a 59-spot subterranean parking garage.
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Located at 12 Halsey St., the multifamily property is close to several subway stops on Franklin and Nostrand avenues, as well as in proximity to the Nostrand Avenue train station, which connects the area to Manhattan’s Financial District, some 4.5 miles northwest. Additionally, the community is within a five-block radius of multiple grocery stores and schools.
Walker & Dunlop Senior Managing Directors Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly and Sean Reimer, together with Managing Director Michael Diaz, Senior Director Michael Ianno and Associate Cole Grims secured the refinancing loan. Walker & Dunlop continues to be among the top multifamily lenders in the U.S., having arranged more than $32 billion in multifamily financing over the course of last year and $37.7 billion in loans overall.
