Wells Fargo Provides $621.5M Refinancing Loan For Co-op City Multifamily Property

The Co-op City multifamily property located in the Bronx has recently undergone a refinancing transaction. The transaction, completed on April 28, 2022, involved a loan from Wells Fargo to the property's landlord, Riverbay Corporation. The loan amount for this transaction was $621,500,000, and it was used to refinance the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $621,500,000
• Address: Co-op City
• Market: Bronx
• Units: 15,372

This refinancing deal was facilitated by Wells Fargo, acting as the lender in the transaction. Riverbay Corporation, the landlord of the Co-op City property, worked with their representative from Wells Fargo to secure the loan for the property. With a total of 15,372 units, this multifamily property has successfully refinanced its loan to continue its operations in the Bronx market.