Subject: FNC
Natixis Corporate & Investment Banking provides $97 million financing to refinance New York City multifamily property
NEW YORK, July 11, 2022 /PRNewswire/ -- Natixis Corporate & Investment Banking originated a $97 million, five-year, floating-rate financing to a borrower affiliated with principals of Maddd Equities, Joy Construction and the Katz Family to refinance The Lewis, a 186-unit, Class A multifamily property located at 411 West 35th Street in New York City's Hudson Yards neighborhood.
Built in 2018, the property features an array of amenities including a doorman and 24-7 concierge service, a state-of-the-art fitness studio, a tenant lounge and an enclosed parking garage. The property provides a variety of outdoor areas including a landscaped ground-level terrace and a rooftop sun terrace complete with sunbeds, a dining area with grills, and views of Hudson Yards.
"We are really pleased to have closed another transaction with Natixis CIB. This execution demonstrates that the New York City multifamily market is in a very healthy place and that competitive financing is still very much available for premier assets and strong sponsors," said Eli S. Weiss, Principal of Joy Construction.
"This transaction illustrates Natixis CIBs continued focus on core multifamily opportunities with best-in-class sponsors. This financing marks Natixis CIBs seventh transaction with principals of Maddd Equities and Joy Construction, two companies with a proven track record in the New York City market," said Jared Zimmel, Executive Director, Real Estate & Hospitality Americas, Natixis CIB.
The financing was arranged by Brad Domenico from Progress Capital.
About Natixis Corporate & Investment Banking
Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.
Our teams of experts in 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. We are committed to supporting the environmental transition by aligning our financing balance sheet with a +1.5°C trajectory by 2050.
As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d'Epargne retail networks, Natixis CIB benefits from the Group's financial strength and solid financial ratings (Standard & Poor's: A, Moody's: A1, Fitch: A+, R&I: A+).
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SOURCE Natixis
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