Naples, Fl W Financial has provided a $10.2 million first mortgage bridge loan secured by a newly-built condominium building located on 6th Ave. The borrower needed the bridge loan to repay their maturing construction loan. The borrower plans to repay the W Financial loan as the condominium units are sold.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,