Updated Jan 21, 2026
GPG Victrix Secures $55.7 Million Bridge Loan From M&T Realty Capital For LiveWell Apartments
550 Wood Street
$55,700,000
Units
252
Asset Type
Development Site
Closing
Jan 21, 2026
About this deal
AI
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.
On the Map
$55,700,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93