Updated Mar 3, 2026
Dan Hermann Of Ziegler Provides $632.9M Loan To David V. Pomeranz Of RiverSpring Living
5901 Palisade Avenue
$632,925,000
Building Size
—
Asset Type
Senior Housing
Closing
Mar 2, 2026
About this deal
AI
The asset involved in this transaction is a senior housing property located at 5901 Palisade Avenue in the Bronx market. The loan amount for this property is $632,925,000, which is part of a tax-exempt bond financing arrangement.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $632,925,000
- Lender: Dan Hermann - Ziegler
- Landlord: David V. Pomeranz - RiverSpring Living
This deal represents the largest senior living bond deal to date and marks the first continuing care retirement community project in New York City, highlighting Ziegler's role in facilitating the financing for River's Edge.
Players
Bronx Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93