CLOSED | $52.5 MILLION REFINANCING ON BEHALF OF TOWNHOUSE MANAGEMENT COMPANY
June 29, 2022
The Aurora Multi-family Development
New York, NY
The Carlton Group’s CEO Michael Campbell announced the closing on a $52.5 million refinancing on behalf of Townhouse Management Company (“Townhouse”) for a 126-unit residential building located in the Murray Hill neighborhood of Manhattan. The lender is a private debt firm.
Since completion of the Aurora development in 2004, all units have been master leased to Oakwood (originally Marriott ExecuStay) and operated as furnished corporate housing units.
Townhouse, founded in 1933 by William Maidman, is a diversified real estate company that acquires, develops and manages residential, commercial, retail and mixed-use properties throughout the New York metropolitan area.
“It’s an honor to have represented such a professional sponsor and their prestigious asset” said Campbell who led the firm’s efforts.