Invictus JV Scores $28M Financing for Manhattan Property
JLL secured the loan, which will retire the construction and mezzanine loans.
812-814 Amsterdam Ave. Image courtesy of JLL
A partnership of Invictus Real Estate Partners and MJM Associate Contracting has received $27.5 million in financing for a newly constructed 44-unit, 15-story property in Manhattan. JLL secured the loan with MetLife. The financing is set to retire the construction and mezzanine loans.
Completed in March, the asset comprises studio, one- and two-bedroom units, ranging from 414 square feet to 1,167 square feet. The property also includes 12,302 square feet of retail space, leased to Learning Experience Academy and Sunshine Smiles Pediatric Dentistry.
Located at 812-814 Amsterdam Ave., the community is within walking distance of several subway and bus stations. The asset is also within walking distance of several shopping and dining options, including the Columbus Avenue retail corridor. Midtown Manhattan is 3 miles from the asset.
The JLL team included Managing Director Scott Aiese, Senior Director Peter Rotchford, Vice President Alex Staikos, and Analyst Andrew Cohen. In September, Aiese, Rotchford and Staikos secured $107.2 million in acquisition financing for the purchase of The Waypointe, a 464-unit apartment community in Norwalk, Conn.
