P7 Development Secures $47.25 Million Construction Loan From Acres Capital For Multifamily Asset In Hicksville

The property involved in this transaction is a multifamily asset located at 76-82 North Broadway in Hicksville, comprising 104 units. The loan amount for this project is $47,250,000, provided by Acres Capital for construction purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,250,000
• Asset Address: 76-82 North Broadway
• Market: Hicksville
• Lender: Acres Capital
• Landlord: P7 Development
• Brokers: James Murad, Adam Hakim, Michael Winter, Alexander Korolik, and Evan Brudnicki - Ripco
• Units: 104
• Loan Type: Construction

The individuals involved in this transaction include brokers James Murad, Adam Hakim, Michael Winter, Alexander Korolik, and Evan Brudnicki, all representing Ripco. The landlords of the property are identified as P7 Development, with the loan provided to facilitate construction activities on site.