Updated Jun 1, 2026
FBE Limited Secures $27.5 Million Refinancing Loan From Argentic Investment Management For 60-Unit Multifamily Property
781 Washington Avenue
$27,500,000
Units
60
Asset Type
MultiFamily
Closing
May 5, 2026
About this deal
AI
The asset involved in the transaction is a 60-unit multifamily residential building located at 781 Washington Avenue in the Brooklyn market. The refinancing loan amount secured for the property is $27,500,000, which replaces existing debt previously held by Webster Bank of $23,700,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $27,500,000
- Address: 781 Washington Avenue
- Market: Brooklyn
- Lender: Argentic Investment Management
- Landlord: FBE Limited
- Loan Type: Refinance
- Units: 60
FBE Limited, through its entity Ebf Washington Owner LLC, was the party securing the refinancing loan from Argentic Investment Management. This transaction reflects the shift in financing for the property, aimed at improving the financial structure of the asset under management.
On the Map
$27,500,000
MultiFamily
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Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93