Pebb Capital, TriArch Real Estate Receive $27.5M Loan for Student Housing Project in Manhattan
NEW YORK CITY— A partnership between Pebb Capital, a private equity firm with offices in Florida and New York, and TriArch Real Estate has received a $27.5 million permanent loan for the development of a 14-story student housing community in the Morningside Heights neighborhood of Manhattan. Construction began on the property in March 2018, with delivery set for fall 2020. The community will serve students at Columbia University. Valley Bank provided the initial construction loan and is now invested in the project to the tune of $41.7 million.