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Luxury Brooklyn apartment property trades for $142M

Luxury Brooklyn apartment property trades for $142M
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JLL Capital Markets Group Arranges Joint-Venture Equity and $91 Million Construction Loan for Long Island Apartment Community

NEW YORK, NY - JLL Capital Markets announced today that it has arranged debt and equity financing for Arboretum, a to-be-built, 292-unit, garden-style rental community located in Farmingville, New York, one of the most supply constrained apartment markets on Long Island.
JLL worked on behalf of the borrower, a joint venture between BRP Companies and funds and accounts managed by BlackRock Alternative Investors, to secure a $91 million floating-rate construction loan through Santander Bank. In. ....

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