Arch Companies Secures A $70.5M Loan for 88 University Place in Manhattan, New York

Arch Companies, a vertically integrated real estate owner, operator and developer, has closed on the refinancing of 88 University Place, an office property in Manhattan, with a $70.5MM bridge loan from a CIM Group-managed fund. The bridge loan was sourced by a partnership between Arch Advisors and Jonathan Aghravi and Eli Terry of JBA Equities.

The successful closing of this bridge loan is a positive step in the rebranding and repositioningof the assetas 88U for the ownership partnership which includes Arch Companies, Tahari Capital, and other existing partners,after a significant period of having theoffice space off the leasing market.

The 11-story boutique building includes 10 floors of office space across 85,000 square feet and 9,314 square feet of ground floor retail.Arch is in the process of repositioning the asset through a significant capital improvement program. The renovations include brand new lobbies, amenities, and turnkey office spaces. Tenants will enjoy lofty 11-foot ceilings, two renovated entrances, alounge, a tenants-only fitness center complete with showers, as well as a tenants-only rooftop terrace.Sam Seiler, Joseph Sipala, and Kristen Morgan of JLL have been exclusively retained to market the vacant office space.

The property is located in the heart of Greenwich Village providingnearby access to green and outdoor spaces including Union Square Park, Washington Square Park, and Jefferson Market Garden. Additionally, an abundance of restaurants, cafes, and hotels are located within blocks from the building. The area is a major transportation hub, providing access toa variety of public transportation options including numerous Citi Bike locations, subway lines, and bus stops. The building, which is two blocks from Union Square,has entrances on both University Place and 12thStreet allowing ample flow when entering and exiting the property.

“New York continues to represent an exciting investment opportunity to drive value with our deep market knowledge,” said Jeffery Simpson, Managing Partner, Arch Companies. “We’re excited to have completed this refinancing for an office property in the competitive Greenwich Village submarketand are looking forward to the future of the building,” added Jeremey Tahari, Managing Partner, Tahari Capital. 

About Arch Companies

Arch Companies is a vertically integrated real estate owner, operator, and developer with an active investment portfolio of more than 3.4 million square feet across the United States. Arch specializes in real estate investment, development, and management with a concentration on primary and secondary markets. The company has three investment verticals, value add multi-family, ground up development and rescue capital. Arch differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners. Arch’s vertically integrated platform allows for complete control and oversight of the business plan throughout the life cycle of the investment.

About Tahari Capital

Originally the real estate investment arm of the eponymous fashion label, Tahari Capital has now restructured as a focused strategic real estate investment fund. The vision is clear: “To manage quality and sustainable properties for the benefit of both our investors and our tenants,” says Jeremey Tahari, Managing Partner.

While the fund holds properties around the world, the greater New York region is of primary interest, in that the firm is based in Manhattan.

Currently managing a $150M+ portfolio of retail, residential, commercial, and industrial space, Tahari Capital is recognized for its unique attention to detail, clearly derived from its roots in fashion— where every stitch counts. “Here at Tahari Capital we pride ourselves on offering the most lucrative returns for our investors, while assuring the most satisfactory conditions for our tenants,” says Tahari, who structured a major in Real Estate at NYU.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About CIM

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit

About JBA Equities

JBA Equities is a boutique Real Estate Capital Advisory firm located in New York City founded in 2018. Since inception, JBA Equities has closed over $2 Billion in financing transactions nationwide. These transactions include the placement of senior debt, secondary debt, and joint venture equity. JBA prides themselves in their ability to finance all asset types across the entire capital stack by utilizing our long-standing relationships, creative structuring capabilities, and market expertise.