ORIX USA’s Real Estate Investment Strategies group announced the closing of a $16.13 million senior mortgage loan to Marble Hill Capital and Fort Point Capital Partners for the refinancing of 68 Richardson Street. Located in the Williamsburg neighborhood of Brooklyn, NY, the six-story mixed-use property includes 24 residential units and approximately 1,700 square feet of commercial space. Originally constructed in 1920 and comprehensively renovated from 2013 to 2015, the property features large, loft-style residences with high ceilings, hardwood floors and modern finishes.
“We are pleased to support Marble Hill Capital and Fort Point Capital Partners in the refinancing of 68 Richardson Street, a differentiated multifamily asset in one of Brooklyn’s most sought-after neighborhoods,” said Stephen Klufas, Managing Director, ORIX USA. “This transaction reflects our continued commitment to provide strategic capital solutions for experienced sponsors and well-located assets with strong long-term fundamentals.”