Shorewood Real Estate Group And Bogopa Enterprises Secure $130 Million Construction Loan For Multifamily Project

The asset involved in the transaction is a multifamily property located at 350 Grand Concourse in the Mott Haven market. Shorewood Real Estate Group and Bogopa Enterprises are building The 360, which is a 13-story, 304-unit mixed-income residential project. The construction financing secured for this project amounts to $130 million from PCCP.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $130,000,000
• Lender: PCCP
• Landlord: Shorewood Real Estate Group & Bogopa Enterprises
• Brokers: Lauren Kaufman & Nicco Lupo - JLL
• Loan Type: Construction

Lauren Kaufman and Nicco Lupo of JLL arranged the construction financing for the project, ensuring the facilitation of funds necessary for the development of The 360 in the Bronx region.