April 26, 2016
Capital One has provided a $110 million, floating-rate, interest-only refinance for the Eastchester Heights Apartments in the Bronx, NY. The 1,416-unit complex, located at 3480 Seymour Ave., is owned by Taconic Investment Partners and Clarion Partners.
Evan Pariser with HFF led the team that arranged the financing. The loan was brokered by HFF and has an initial term of 30 months, with an option to extend in six-month increments for an additional 30 months.
“We are always pleased to have the opportunity to build on existing relationships, and that was certainly the case with Taconic and Clarion,” said Paul Kesicki with Capital One’s Commercial Real Estate Group. “Since acquiring Eastchester Heights (in 2007), these firms have done a tremendous job creating additional value through property improvements.”