First Citizens Bank’s commercial real estate business has served as sole lender on a $74 million senior secured loan to Lonicera Partners on a 23-story, class A multifamily building in Downtown Brooklyn, New York.
Located at 310 Livingston St., the building features 160 luxury apartment units and over 8,600 square feet of ground floor retail and premier amenity space.
“We’re pleased to partner with First Citizens Commercial Real Estate on this financing, after having positive experiences working with them on other commercial real estate deals in recent years,: said Jamie Anthony, founder of Lonicera Partners. “We appreciate their expertise in commercial real estate construction financing, as well as their ability to deliver tailored financing that meets our specific business needs.:
Lonicera Partners is a Brooklyn-based real estate investment and development firm founded in 2010. Its portfolio consists primarily of residential development projects in the Downtown Brooklyn area.
“Lonicera Partners has a strong track record of multifamily developments in the greater NYC area and an in-depth knowledge of the neighborhoods in which they invest,” said Chris Niederpruem, group head for commercial real estate. “We enjoy working with Lonicera’s experienced leadership team, and we look forward to supporting them in future business opportunities.”
