Truist Financial Provides $140 Million Refinance For Shoregate Multifamily Project In Bay Shore

The asset involved in this transaction is a 418-unit multifamily property located at 143 4th Avenue in the Bay Shore market. The property was developed by TRITEC Real Estate and has been refinanced for $140,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $140,000,000
• Lender: Truist Financial
• Landlord: Robert J. Coughlan, James L. Coughlan & Daniel P. Coughlan - TRITEC Real Estate
• Loan Type: Refinance

The refinancing deal was secured by JLL Capital Markets, emphasizing their role in facilitating financial arrangements for multifamily projects like Shoregate. The transaction reflects the confidence in the multifamily segment within the Bay Shore market.