PCCP Provides $130 Million Senior Loan For Shorewood Real Estate Group's 304-Unit Development

350 Grand Concourse in the Bronx is a multi-family asset featuring 304 residential units and a grocery store covering 47,892 square feet. The property is currently under development by Shorewood Real Estate Group and Bogopa Enterprises, with Food Bazaar projected as the anchor tenant.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $130,000,000
• Lender: PCCP
• Landlord: Larry Davis - Shorewood Real Estate Group
• Broker: JLL
• Loan Type: Senior

The financing arrangement reflects a significant collaboration between PCCP and the developers, facilitating the realization of a substantial apartment development within the Mott Haven area. Larry Davis represents Shorewood Real Estate Group in this transaction, highlighting the involvement of key stakeholders in the project’s progression.