Exact Capital and Lam Group secured a $148 million loan from Aareal Capital to refinance a major monument in Harlem, New York. Walker & Dunlop arranged the financing.
Known as The Victoria, it is a 30-story building and the tallest in Harlem. It features more than 23,000 square feet of retail space, a 211-key hotel, 191 luxury rooms, and 52 underground parking spaces.
The planned refinance project surrounds Victoria Theater. It is also close to major retail stores, and transportation hubs. Plus, Walker emphasized "cultural heritage" in the area, which includes the Apollo Theater and Columbia University's Manhattanville campus.
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