Arden Group Secures $141.5M Refinance Loan For 222-Unit Building In Washington Heights

The asset involved in this transaction is an industrial property located at 4650 Broadway in Washington Heights, Manhattan. The property has been financed with a loan amount of $141,500,000 as part of a refinance arrangement, replacing a previous loan of $150,000,000 from Banco Inbursa.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $141,500,000
• Lender: Barry Sternlicht - Starwood Property Trust
• Landlord: Craig A. Spencer - Arden Group
• Date: 07/28/2025

This transaction highlights the refinancing efforts by Arden Group, led by landlord Craig A. Spencer, as they move forward with their 222-unit residential building at the specified address. Barry Sternlicht represents Starwood Property Trust in this financing deal.