Lonicera, Rabina refinance DoBro luxury multifamily project
A finish line is in sight for Lonicera Partners and Rabina at House 55. The joint venture secured $226 million in debt to refinance their luxury multifamily project at 55 Willoughby Street in Downtown Brooklyn, the Commercial Observer reported. Affinius Capital provided the bridge debt, which will support lease-up and stabilization of the 295-unit project. No broker was listed in connection with the refinancing of the 43-story building. Construction on the property began more than three years ago, but stabilization is expected to occur by early next year. Lonicera executive Brooke Cianfichi said in a statement that the property sports […]
This article originally appeared on The Real Deal. Click here to read the full story.
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