GAIA Inks 48M Loan Extension for Williamsburg Multifamily Building
Summary by Commercial Observer
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GAIA Extends Loan Maturity on Williamsburg Multifamily
GAIA Real Estate said Thursday it had extended its $48-million loan with Raymond James Bank for its Williamsburg multifamily property, 55 Hope. The extension pushes the loan’s maturity to August 23, 2026. The locally based investor originally acquired 55 Hope at the height of the COVID-19 pandemic, when many investors and tenants were retreating from New York City. By providing tenant concessions at acquisition and upgrading the building ameniti…
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