Recent announcements and press
Knighthead Funding, LLC (“Knighthead”), the Greenwich, CT-based real estate finance company, announced that it has provided a $27 Million first mortgage construction loan to the developer of a seven-story, mixed-use apartment building located in Forest Hills, NY. The building will contain 46 apartments, ground floor retail and underground parking. The developer commenced construction shortly after the loan closed and completion is estimated to occur in 2018. The development will replace four existing structures, all of which had been used previously for commercial purposes.
Manhattan condominium developer Six Sigma received a $29 million acquisition and construction loan from Knighthead Funding, LLC to finance the conversion of an office building in Chelsea to luxury residential condos, Mortgage Observer has first learned.
Knighthead capital and Silo Financial have joined forces to launch Knighthead Funding, which recently closed the Knighthead Special Situations Real Estate Fund of $155 million in equity.
Silo Financial Corp, a real estate specialty finance company, announced its lending business has been acquired by Knighthead Capital Management.