Natixis Lends Against Presidential City Apartments
Natixis Real Estate Capital LLC provided $147,768,000 of floating-rate financing to Post Brothers for the acquisition and renovation of a 984-unit, multi-family complex located in Philadelphia, PA.
The four-tower complex is conveniently located on City Avenue and just one block from Interstate-76 and is comprised of three 12-story towers and one 13-story tower situated on approximately 23.6 acres in a gated-community setting. The loan was structured to provide additional proceeds to allow Post Brothers to complete the transformation into a luxury rental property through upgrades to the units, facade, landscaping and amenities.
The financing was arranged by Russell Schildkraut and Christine Zivkovic from the office of Ackman-Ziff in New York.
Natixis Real Estate Capital LLC is a full-service, direct lender offering a wide range of financial solutions for commercial real estate for its clients throughout the United States. It specializes in CMBS originations and also provides floating-rate structures for opportunistic property acquisition and repositioning situations. It has the ability to underwrite the full capital stack, including first mortgage, mezzanine/b-note, and preferred equity.
Natixis Real Estate Capital LLC is a subsidiary of Natixis, the corporate, investment and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 21% of total bank deposits and 36 million clients spread over two networks, Banque Populaire and Caisse d’Epargne.