Affinius Capital today announced the closing of a loan to refinance The Breeze, a 238-unit oceanfront multifamily property in Long Beach, NY. The loan was made to a joint venture between B2K Development and Harrison Street.
The newly built The Breeze is a Class A, 12-story building offering 238 units split between studios, one-bedrooms, and two-bedrooms with approximately 14,000 square feet of retail space along the Long Beach Boardwalk. Property amenities include a 514 space parking garage with electric vehicle chargers, a resort-style outdoor heated pool and hot tub, indoor and outdoor fitness centers, a tennis court, and 24-hour concierge and maintenance services. The property is within walking distance of the Long Beach Long Island Railroad station, providing convenient access to New York’s major transportation networks and offering easy commutes to Manhattan.
Affinius Capital Managing Director David Greenburg commented, “The Breeze serves an undersupplied segment of Long Island providing residents with a diverse array of amenities in the sought after Long Beach market. As a seasoned developer and operator, B2K brings extensive knowledge and experience in this market and product type, and we are looking forward to the success of this project.”
The financing was arranged by Adam Schwartz of Walker & Dunlop.
About Affinius Capital LLC
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
