Credit | Slate Property Group

Slate’s credit division directly originates $50-150M+ senior secured whole loans primarily to local owner-operator borrowers to finance the construction of multifamily and condominium projects, including land acquisition, construction, new development, re-development, inventory and assets with a lease-up or repositioning component. Since the formation of the credit division in 2016, the firm has originated in excess of $3.0B in whole loans by leveraging Slate’s broader platform, which offers expertise in underwriting, land valuation, construction, cost estimating, zoning, design, property management, and leasing, to guide investment decisions and assess the valuation of collateral. Slate credit division is currently one of the most active originators of construction financing in the U.S.

Representative Case Studies

2366 Bedford Avenue

Flatbush, Brooklyn, NY

A $140 million construction loan for Clipper Equity’s 7-story, 354-unit multifamily project located in Flatbush, Brooklyn, NY. The loan is being deployed mid-construction with a completion date set for the third quarter of 2025. 2366 Bedford Avenue is part of a larger redevelopment project of the historic Sears catalog printing facility which has been converted into affordable housing.

120 East 144th

Bronx, NY

A $150 million construction loan for Beitel Group’s 13-story, 450-unit multifamily project located at 120 East 144th Street in the Bronx’s Mott Haven neighborhood. The funds will be utilized to complete construction of the 289,000-square-foot rental asset comprised of 450 residential apartments.

618 Pavonia Avenue

Jersey City, NJ

A $160 million bridge loan for Namdar Group's 618 Pavonia Avenue in Jersey City’s Journal Square neighborhood. The loan will be used to retire $120 million in construction financing and fund the lease-up and stabilization of the 27-story, 432-unit residential building, known as 9 Homestead Place.

268 Lorimer Street

Brooklyn, NY

A $137 million construction loan for The Loketch Group & Hamilton Eastman’s 268 Lorimer St in Williamsburg, Brooklyn. The loan was used for the ground-up construction of an 8-story, 270-unit residential building, known as Lorimer House.