Freddie Mac Multifamily Refis Gowanus Apartments With $166M Loan
By Andrew Coen January 9, 2024 12:21 pm
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Lightstone has secured $165.6 million of agency-backed debt to refinance a multifamily property in Gowanus, Brooklyn, Commercial Observer has learned.
Freddie Mac (FMCC) Multifamily, a subsidiary of the Federal Home Loan Mortgage Corporation, supplied the loan on Lightstone’s 430-unit property at 365 Bond Street. JLL (JLL), which is part of Freddie Mac’s Optigo lender network, will service the five-year, fixed-rate loan.
Peter Rotchford, Michael Shmuely, Nicco Lupo, Jeffrey Julien, Rob Hinckley, Jonathan Hageman, Steven Rutman and Hall Oster of JLL’s Capital Markets team arranged the transaction.
“Despite market-driven headwinds, this transaction proves there is strong liquidity in the capital markets for prime assets operated by best-in-class sponsors,” Shmuely said in a statement.
Located two blocks from the Carroll Street subway station, the 2016-built 356 Bond Street property has amenities that include a rooftop barbeque area, fitness center, yoga studio and game room along with 30,000 square feet of green space. The property also features 2,407 square feet of ground-floor retail space where cafè Bond Street Coffee and Goods is a tenant.
Representatives at Lightstone and Freddie Mac did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
