GTIS Partners Announces Origination of $146 million Loan to Extell Development for Upper East Side Condo Inventory

GTIS Partners LP (“GTIS”) today announced that it will be providing a $146 million inventory loan to Extell Development (“Extell”) to refinance the remaining units in The Kent, a fully completed 104-unit, 210k square foot, 30-story residential condominium tower with ground floor retail in Manhattan’s Upper East Side. The loan will be made in partnership with Blackstone Real Estate Debt Strategies.

The property is located in the highly coveted Upper East Side of Manhattan on the corner of 95th Street and Third Avenue. The Upper East Side offers proximity to Midtown Manhattan and Central Park in addition to top-tier public and private schools. The property contains an extensive amenity offering, including a 55-foot indoor heated pool, fitness center, multiple lounge areas, kids play areas, outdoor lounge with fireplaces, and bike storage. The art deco-inspired design by award-winning architects Beyer Blinder Belle and acclaimed interior designer Alexandra Champalimaud is crafted with oversized windows, high ceilings, gracious floor plans, and the finest finishes.

You can now read the full press release at the link below