Ben Beitel Of Beitel Group Refinances Bronx Multifamily Asset For $175 Million With Varde Partners

The property asset involved in this transaction is a multifamily building located at 120 East 144th Street in the Bronx. The asset encompasses 366,596 square feet and comprises 452 units. The transaction involves a refinance loan amounting to $175,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $175,000,000
• Square Footage: 366,596
• Units: 452
• Address: 120 East 144th Street
• Market: Bronx
• Lender: Varde Partners
• Landlord: Ben Beitel - Beitel Group
• Loan Type: Refinance

Beitel Group, through 120 East 144 Owner LLC, engaged in this refinancing deal, replacing a prior loan of $150,000,000 from Slate Property Group’s SCALE Lending with the new facility from Varde Partners via VMC CRE Master Lending Upper REIT LLC.