Richman nabs $225M refi for three Florida properties amid constrained multifamily lending

The Richman Group of Companies scored $225 million in refinancing for a portfolio of three South Florida multifamily properties.  The $18.5 billion asset management firm headed by Richard Richman secured financing from New York Investment Management and Reinsurance Group of America for 942 units across the region, the Commercial Observer reported. The debt amounts to $238,900 per unit. New York Life Investment Management provided $107 million to refinance the Marc Apartments, a 396-unit complex at 3955 Design Center Drive in Palm Beach Gardens. The property was developed by The Richard Group in partnership with Catalfumo Companies as part of the […]

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