RXR Secures $269M From Blackstone, Canyon Partners for White Plains Multifamily Refi
Scott Rechler’s firm and its partner, Korman Communities, have already been renting out nearly all 477 units at Hamilton Green apartments.
By Brian Pascus May 5, 2026 11:37 am
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RXR and Korman Communities have secured $269 million to refinance Hamilton Green, a recently completed 477-unit luxury multifamily housing complex in the heart of White Plains, N.Y.
A group led by Blackstone Real Estate Debt Strategies and Canyon Partners Real Estate provided the debt, which comes after the building’s completion in 2025 and nine months after lease-up of the two-building development. No broker was listed on the transaction.
The property is now nearly fully leased, less than a year after opening.
Scott Rechler, chairman and CEO of RXR, spoke to the property’s early positive leasing performance metrics in the Westchester market, which has ongoing demand for housing in what is a high-demand, transit-oriented suburban market.
“The successful refinancing of Hamilton Green reflects the strength of the RXR platform and our ability to execute across the full lifecycle of a complex development — from entitlement and construction through lease-up and stabilization,” added Rechler.
Located at 5 Cottage Place and 25 Cottage Place at the spot of the former White Plains Mall in the city center, Hamilton Green features units ranging from studios to three-bedrooms. The building includes amenities such as a fitness center, an indoor pool, a golf simulator, a dog wash, and on-site resident service coordinators. The building is a 10-minute walk to the White Plains MetroNorth train station that provides direct access into Manhattan’s Grand Central Terminal.
Jacob Feingold of Canyon Partners Real Estate also spoke to Hamilton Green’s strong leasing performance and central location near transportation, as well as RXR’s institutional sponsorship and the “long-term demand drivers” from being so close to the New York metropolitan area.
“This investment reflects our continued focus on high-quality residential assets in supply-constrained, high-income, transit-oriented markets,” said Feingold.
Brian Pascus can be reached at bpascus@commercialobserver.com.
