136
PENNSYLVANIA AND NEW JERSEY — NAI Bluestone Real Estate Capital (Bluestone) has closed on five financing transactions totaling $70 million. These include:
- $21 million in permanent mortgage financing for the Erbe Apartment Complex in Philadelphia. The loan was financed through Bluestone's correspondent relationship with Greystone, a Fannie Mae DUS lender.
- $20 million for bridge loan for Woodbury Mews, a 228-unit senior housing facility in Woodbury, N.J.
- $17 million for a redevelopment loan for the Robert Morris Building in Philadelphia on behalf of 806 Capital and Financial Realty Advisors. The financing will be used to convert the office building into 11 upscale apartments.
- $10 million in equity financing in its relationship with 806 Capital for Center City Northeastern, formerly known as Temple University's Northeastern Hospital. The property is currently being converted into a Class A hospital and medical office facility anchored by Temple University Health Systems.
- $4.5 million in permanent mortgage financing for Cedar Ridge Apartments in Pittsburgh. The loan was provided through Bluestone's correspondent relationship with Greystone.