Financing
Adam America lands $105M refi for Crown Heights rental building
Published on
Deutsche Bank provided the debt for the soon to be completed project at 409 Eastern Parkway
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.
