Concord Summit Capital Closes $70 Million Bridge Loan for 376-Unit Heron Pointe Apartment Community in Suburban Buffalo
BUFFALO, NY - Concord Summit Capital arranged a $70 million bridge loan to the developer of a 376-unit luxury apartment community in the suburbs of Buffalo, New York. Buffalo-based Rane Property Management LLC has already completed the 232-unit first phase of Heron Pointe Apartments and is currently building out the final 144 units, which should be delivered in the third quarter of 2022. The new financing package will be used to pay off a construction loan. TPG (NASDAQ: TPG) provided the...
Source: multifamilybiz.com