TRITEC Nabs $173 Million Financing Package for 418-Unit Shoregate in Bay Shore

TRITEC secured $173 million in financing for its planned 418-unit mixed-use rental project Bay Shore Residences, now Shoregate, Commercial Observer reported.

• Construction loan: $113 million, four-year, floating rate, from Truist Financial Corporation and Santander Bank
• Equity: $55 million in joint venture equity from institutional investors advised by J.P. Morgan Asset Management
• Arranger: JLL, on behalf of TRITEC

“We thank our partners for their trust in TRITEC and their commitment to the Bay Shore community. We look forward to delivering an exceptional project,” said TRITEC co-founder Bob Coughlan.

Read the full story: Tritec Nabs $173M Financing Package on Long Island Rental Project, Commercial Observer