NEW YORK—Prudential Mortgage Capital Co., the commercial mortgage lending division of PrudentialInc., has provided more than $160 million in acquisition funding for two apartment towers, The Aldyn and The Ashley, on Manhattan’s Upper West Side.
Prudential Mortgage Capital Co.’s Sarah Teunis, director, led the transaction, along with HFF’s Riaz Cassum, Jay Marshall, Robyn King and Jennifer Keller serving as.
Financing was provided in a single transaction for The Aldyn and The Ashley, which are adjoining properties on Riverside Boulevard between 62nd and 63rd streets. The properties share a courtyard and indoor recreation facilities. The borrower, an affiliate of Boston-based GID, used the loan proceeds to purchase the buildings.
The Aldyn is a 38-story tower with 286 units, including 136 rental apartments that were included in the trade. The property’s 150 condominiums were not included in the acquisition. The Ashley is a 23-story tower with 209 units, all of which are rental apartments. Both properties were constructed in 2010 and offer units that include stone countertops, custom cabinetry, separate showers and bathtubs in master baths, hardwood floors, floor-to-ceiling windows and premium appliances.