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Clipper Realty Secures $82M For Brooklyn Heights Apartment

Walker & Dunlap identified MetLife Investment Management as the financing partner for the transaction.

Brooklyn Bridge. Photo by Shutterstock.

BROOKLYN—Publicly-traded Clipper Realty has secured $82 million for Clover House, a newly renovated luxury apartment complex in the Brooklyn Heights neighborhood of Brooklyn.

Led by Hirsch Simins and David Rosenberg, Walker & Dunlop’s New Jersey Capital Markets team arranged the financing, identifying MetLife Investment Management as the financing partner for the transaction. In addition to rate locking the transaction on the same day as application, Walker & Dunlop helped to refinance the property’s existing debt, including ten years of interest-only payments.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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