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Pi Capital Partners lands Refi for 85-15 Queens Blvd

First Republic Bank provided the debt

Rendering of 85-15 Queens Blvd, AKA Elm West (Credit: Pi Capital Partners)

Pi Capital Partners has secured $60 million from First Republic Bank to refinance 85-15 Queens Blvd, according to CO. The Elmhurst residential building contains 142 apartments. 

Financing breakdown: The new loan replaces construction financing provided by People’s United Bank in 2016. The fixed-rate loan has a term of five years.

Worth Noting: Leasing at the building is expected to commence in early 2019. The property includes 25,000 square feet of ground-floor retail. A middle school will also occupy 30,000 square feet.

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