Park 49 secured $18.45M in senior fixed-rate permanent debt for a 97-unit, stabilized garden-style multifamily asset in the Midwest. The refinancing retired higher-cost short-term debt following successful lease-up, locking in a competitive 4.375% fixed interest rate at 70% LTV. The transaction delivers long-term cash flow predictability and completes the sponsor’s business plan.
Park 49 served as strategic financial advisor for the acquisition and repositioning of a dark, 250-key hotel property in New York City closed for over six years. Park 49 structured the complex transaction by advising on municipal lease renegotiations, debt resolution with existing lenders, and ownership transition. Park 49 continues to act as an ongoing advisor to guide the asset’s conversion and re-launch.
Park 49 successfully arranged a $15.0M senior debt restructuring for a 15-story, 51-unit Class B multifamily asset facing an impending balloon payment. The new 5.25% fixed-rate financing at 67% LTV fully retired the existing debt and provided capital for exterior facade and common area modernizations. The transaction stabilized the capital structure and set the foundation for future rental growth.
