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GPG Victrix Secures $55.7 Million Bridge Loan From M&T Realty Capital For LiveWell Apartments
FINANCED
$55,700,000
Pennsylvania
See Similar DealsDevelopment Site
Financed 01/21/2026
FINANCED
GPG Victrix Secures $55.7 Million Bridge Loan From M&T Realty Capital For LiveWell Apartments
550 Wood Street
See Similar DealsDevelopment Site
Financed 01/21/2026
Summary
PENNSYLVANIA
Asset Type:Development Site
Transaction Type:Loan
The property asset involved in the transaction is a development site located at 550 Wood Street in Pittsburgh, PA. The landlord for this deal is Anoop Davé of GPG Victrix. The property is part of the LiveWell Apartments project, consisting of 252 residential units that are being developed through the adaptive reuse of GNC’s former headquarters.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,700,000
- Lender: Robert Barry - M&T Realty Capital Corporation
- Landlord: Anoop Davé - GPG Victrix
- Loan Type: Bridge
Robert Barry represents M&T Realty Capital Corporation in this transaction, securing the bridge debt for the project that aims to complete the lease-up of a historic office-to-residential conversion designed by Daniel Burnham, which qualifies for federal and state tax credits.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,700,000.00
Monthly NOI$371,333.33
Monthly Debt Service$352,061.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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