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Lendlease And Aware Super Secure $450M Refinance From Ares Management For Multifamily Project In Greenpoint
FINANCED
$450,000,000
New York
See Similar DealsMultiFamily790,000 SF
Financed 02/13/2026
FINANCED
Lendlease And Aware Super Secure $450M Refinance From Ares Management For Multifamily Project In Greenpoint
1 Java Street
See Similar DealsMultiFamily790,000 SF
Financed 02/13/2026
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$569
Total Square Footage:790,000 SF
Transaction Type:Loan
The Riverie is a multifamily property located at 1 Java Street in the Greenpoint market, covering a total area of 790,000 square feet and comprising 834 units. This asset has recently secured a refinancing loan of $450 million, representing one of the final United States developments by Lendlease.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $450,000,000
- Address: 1 Java Street
- Market: Greenpoint
- Square Footage: 790,000
- Units: 834
- Lender: Michael J. Arougheti - Ares Management
- Landlord: Tony Lombard - Lendlease & Aware Super
- Loan Type: Refinance
This transaction involved a joint venture between Lendlease and Aware Super, highlighting their collaboration in securing the refinancing through Ares Management. Michael J. Arougheti and Tony Lombard played significant roles in this financial arrangement, representing the interests of their respective companies in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$450,000,000.00
Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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