BankUnited Provides $27M Acquisition Financing for East Village Apartment

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The Westover Companies has landed $26.85 million in acquisition financing for The Nathaniel, a grocery-anchored, 85-unit apartment building in the East Village, Commercial Observer has learned. 

BankUnited provided the financing. JLL’s Steven Klein, Jamie Leachman, Christopher Pratt and Sean O’Brien brokered the deal on behalf of the buyer.

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Located at 138 East 12th Street, the nine-story Nathaniel was built in 2014 and has 85 apartments ranging from studio to three-bedroom units plus an 18,000-square-foot Westside Market on the ground floor. Amenities include a gym, bike storage, a lounge, a rooftop pool and a sunset deck.

“The Nathaniel is a Class A asset in a highly desirable location with excellent access to transportation generators and amenities,”  Klein said in a statement. “As a long-term generational holder, Westover will benefit from these attributes, and the asset will continue to perform well for many years to come.”

Officials at Westover Companies and BankUnited did not immediately respond to requests for comment.

Emily Fu can be reached at efu@commercialobserver.com.