Lendlease isn't quite done with the U.S. market just yet. The developer, along with its joint venture partner, Aware Super have landed $450 million to refinance its new Brooklyn multifamily property in Greenpoint, The Riverie, according to reporting from the Commercial Observer.
Ares Management provided the loan, while CBRE arranged it.
Just last month, Lendlease announced The Riverie was welcoming its first batch of residents to the 834-unit rental property. The unit offerings range from studios to three bedrooms and include townhomes, apartments and penthouses. Of the units, 30 percent meet the criteria for affordable housing.
Some other features at the 790,000 square foot all-electric building includes more than 130,000 square feet of indoor and outdoor amenities, with offerings coming out to two parks, conference rooms, a fitness center, a yoga studio, as well as podcast and music studios.
Lendlease has referred to The Riverie as the "largest geothermal residential development in New York State."
Meanwhile, The Riverie might be one of the last ones that the Australian developer delivers in the United States. In fact, the company announced in 2024 that it was exitingall construction in international markets and focusing on its domestic region instead. Selling assets was also in play internationally, it said, in moves that Lendlease expected to free up $3 billion in capital.
It's unclear what the future is for The Riverie and its other U.S. properties. Some major national projects listed in its pipeline include FORUM in Boston, Habitat in Los Angeles, with four other developments remaining underway in Chicago and two others in New York City.
Lendlease told CO that The Riverie was showing "strong leasing momentum."
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