DIG And Torchlight Investors Secure $53.2M Loan For Brooklyn Multifamily Project At 57 Caton Place

The asset involved in this transaction is a multifamily property located at 57 Caton Place in Brooklyn, comprising 131 units. The total loan amount secured for the project is $53,200,000 after acquiring distressed debt worth $78,000,000 tied to the development.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $53,200,000
• Lender: Brian Steiner - Maxim Capital Group
• Landlord: DIG & Dan Heflin - Torchlight Investors
• Market: Brooklyn

Brian Steiner from Maxim Capital Group acted as the lender providing financing for this multifamily project, while DIG and Dan Heflin of Torchlight Investors represent the landlord in this deal. Their involvement is part of securing senior financing for the renovation and management of the multifamily asset.