InterVest Capital Partners Secures $867 Million Loan For Multifamily Conversion At 111 Wall Street

The asset involved in the transaction is a multifamily property located at 111 Wall Street in Manhattan, comprising a total of 899,000 square feet across 1,568 units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $867,000,000
• Lender: Ben Gray - Apollo Global Management, Aaron Casden - J.P. Morgan Chase, Adi Chugh - TYKO Capital
• Landlord: Michael Gontar, Rob Rothschild, Will Hutton, Chris Giovanis - InterVest Capital Partners
• Brokers: Aaron Appel, Adam Schwartz, Dustin Stolly, Keith Kurland, Jonathan Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, Stanley Cayre - Walker & Dunlop
• Loan Type: Office to Residential Conversion

The transaction featured a $778.6 million conversion loan and the extension of an existing $88.4 million CPACE loan from Petros, collectively resulting in a total financing package of $867.0 million.