ACRES Capital Provides $33M Construction Loan for Pittsburgh Multifamily Project

by Taylor Williams

PITTSBURGH — ACRES Capital Corp. has provided a $33 million loan for the construction and stabilization of a 161-unit multifamily project located at 5803 Centre Ave. in the Shadyside neighborhood of Pittsburgh. The property will house 6,000 square feet of retail space and offer amenities such as a fitness center with a yoga studio, coworking office space with indoor and outdoor workstations and a self-checkout convenience mart. The borrower, Colorado-based Charles Street Investment Partners, expects to complete the project in the third quarter of 2022.

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