New York

The New York-based lender originated its first office-to-residential conversion financing alongside a mixed-use condominium and hotel development deal.

The refinancing comprises a $140m loan and a $82m loan for two separate Class A properties in Manhattan.

The New York-based manager has tracked nearly $1.03bn in originations over the past two weeks across hotel, multifamily and office-to-residential deals.

The Klirmark Capital-partnered platform will focus on US construction and bridge loans across the multifamily and for-sale residential sectors.

The firm is adding to its New York City conversion tally with 1740 Broadway’s reconfiguration into a 420-unit residential offering.

The endowment is also optimistic about resilient office assets and a market rebound amid renewed leasing momentum.

The loan will fund Edge Property Group’s 276-unit, 321-bed project at 465 West 165th Street in Manhattan’s Washington Heights submarket.

The New York-based manager re-ups on its trophy office asset stake in the Hudson Yards submarket.