Arker Companies Secures $823 Million Loan For Acquisition Of Bronx Multifamily Properties

The transaction involves a multifamily asset located at multiple addresses in the Bronx, specifically 3320 Bailey Avenue, 735 Oakland Place, 2661 Heath Avenue, 559 East 180th Street, and 1925 University Avenue. The total loan amount secured for this acquisition is $823,000,000 with the purpose of renovation and acquisition of several NYCHA properties. This financing arrangement includes two ground leases totaling $116 million across 13 Bronx buildings.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $823,000,000
• Addresses: 3320 Bailey Avenue, 735 Oakland Place, 2661 Heath Avenue, 559 East 180th Street & 1925 University Avenue
• Market: Bronx
• Landlord: Allan Arker, Alex Arker & Daniel Moritz - Arker Companies
• Loan Type: Acquisition

This transaction highlights the involvement of Arker Companies, with Allan Arker, Alex Arker, and Daniel Moritz representing the landlord in this significant financing agreement. The deal is noteworthy for its focus on enhancing the living conditions within the community by addressing multiple properties under the NYCHA portfolio.