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Adam America lands $105M refi for Crown Heights rental building

Deutsche Bank provided the debt for the soon to be completed project at 409 Eastern Parkway

Rendering of 409 Eastern Parkway (Credit: Adam America)

Adam America has secured a $105 million loan from Deutsche Bank to refinance its mixed-use development at 409 Eastern Parkway. The nearly completed project spans 197,628 SF, and is located in Crown Heights. 

Building details: The property will consist of 186 apartments (35 will be affordable), a retail component (14,357 SF), and a parking garage (15,500 SF)

Financing details: The new loan replaces previous debt from Santander Bank. It also includes a $41 million gap mortgage, according to TRD.

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