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**GAIA Real Estate Extends Loan Maturity for Williamsburg Multifamily Property**
GAIA Real Estate has announced the extension of its $48 million loan from Raymond James Bank for its Williamsburg multifamily asset, 55 Hope. The new loan maturity is set for August 23, 2026.
The New York-based investment firm initially acquired the property during the peak of the COVID-19 pandemic, a time when many investors and tenants were leaving New York City. GAIA implemented strategic tenant concessions at acquisition and undertook targeted renovations, including upgrades to building amenities such as a redesigned rooftop and the addition of a co-working space. These enhancements were part of a broader effort to reposition and stabilize the asset.
As a result of these efforts, GAIA reports that the property’s net operating income has increased by 30% since the time of acquisition.
“We are proud to continue our partnership with Raymond James, which has supported us in realizing 55 Hope’s potential,” said Danny Fishman, CEO and cofounder of GAIA Real Estate. “This extension reflects both the strength of the property’s performance and our confidence in the market going forward.”
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