AMAC Refinances Three Clinton Hill Multifamily Buildings With $29 Million Loan From Truist Bank

The multifamily asset involved in this transaction includes three residential buildings located at 260 Washington Avenue, 309 Washington Avenue, and 311 Washington Avenue, as well as 250 Washington Avenue in Clinton Hill, Brooklyn. These buildings total 60,271 square feet and comprise 78 rental units. The loan amount secured for refinancing was $29,000,000, replacing previous debt held with Flagstar Bank.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $29,000,000
• Loan Type: Refinance
• Lender: Truist Bank
• Landlord: AMAC

The transaction was facilitated by AMAC’s 250 Washington Stone LLC, which is the entity that has refinanced the properties with the support of Truist Bank. The refinancing effort was aimed at improving the financial structure of the existing properties by replacing prior debt obligations.