AANDAR Real Estate Capital has arranged a $145.3 million bridge refinance for a 315-unit Class A multifamily property in New Rochelle, N.Y. The transaction was anchored by a $125.8 million non-recourse senior bridge loan provided by Greystone, structured with a three-year term.
In conjunction with the senior lender, AANDAR arranged a $19.5 million preferred equity investment from Forum Investment Group, completing the capital stack and delivering certainty of execution for the borrower. AANDAR headlined and executed the transaction, serving as the single point of coordination across senior debt and preferred equity.
The transaction required navigating a highly dynamic structure, including multiple layers of municipal regulation, tax considerations and lender requirements. The AANDAR team conducted numerous site visits, participated in extensive legal and lender calls and managed all aspects of communication, documentation, and coordination throughout the process.
In parallel, the closing required the payoff of both an existing construction loan and a C-PACE loan, introducing additional stakeholders, documentation and timing sensitivities that demanded hands-on management and precise execution.
“This transaction reflects the core of what we do at AANDAR — coordinating complex capital stacks through trusted relationships and disciplined execution,” said Shaya Sonnenschein, president of AANDAR Real Estate Capital. “In a market that demands both creativity and certainty, aligning senior debt and preferred equity under a unified strategy was critical to delivering a successful outcome.”
The transaction was led by Sonnenschein, with Michael Weisz working closely on structuring, coordination, and execution. The deal highlights the depth and flexibility of AANDAR’s platform under the leadership of Founder and CEO Aaron Rosenfeld, as well as the firm’s continued expansion of its capital markets capabilities.
