Rockpoint, Brooksville Refinance Wall Street Rentals

A pair of multifamily property owners secured a loan for a pair of rental buildings in the Financial District.

Rockpoint and the Brooksville Company landed a $275 million loan to refinance the properties at 63-67 Wall Street in Lower Manhattan, Bloomberg reported. Apollo Global Management provided the debt on the two buildings, both of which are converted offices with more than 800 units between the pair.

A Newmark team of Jordan Roeschlaub, Nick Scribani and Chris Kramer arranged the financing.

The partners purchased the adjacent buildings from DTH Capital and Metro Loft Management in 2016 for $421.5 million, utilizing a $280 million loan from Wells Fargo. Since then, ownership has renovated the properties, upgrading common areas and amenity spaces.

The property at 63 Wall Street rises 37 stories and has 476 units. Rent ranges from $3,570 to $7,508 per month, according to Apartments.com, and amenities include a fitness center, a clubhouse and a roof terrace. The property was built in 1929 and formerly housed the headquarters of private bank BrownBrothers Harriman.

At 67 Wall Street, meanwhile, there are 317 apartments across 303,000 square feet and 25 stories. It was built in 1921 for the Munson Shipping Company.

Elsewhere in the Financial District, TYKO Capital recently provided a $280 million acquisition and construction loan to the Vanbarton Group for its residential conversion at 77 Water Street.

On the other side of the country, Boston-based Rockpoint recently sold the planned site of a 213,000-square-foot warehouse complex in the City of Industry for $96.1 million, more than double what it paid for the property less than two years prior.

Apollo is in the midst of a mammoth deal, agreeing to acquire publicly traded real estate investment firm Bridge Investment Group for $1.5 billion. The transaction is expected to double Apollo’s real estate assets under management, propelling the number past $110 billion.

— Holden Walter-Warner