Greenspoon Marder Represents ACRES Capital In Construction Financing Of $32.5M Student Housing Project

Jan 29, 2021

New York, N.Y., January 29, 2021 – Greenspoon Marder represented ACRES Capital in the origination of a $32.5M loan to fund the construction and stabilization of Auden Buffalo, a student-housing complex located in Amherst, NY, just one mile from The State University of New York at Buffalo’s “SUNY Buffalo” North Campus. The four-story, roughly 144,000-square-foot Auden Buffalo project will consist of 481 beds across 154 units, as well as a lower-level parking garage with 92 covered and 159 surface parking spaces.

Led by New York real estate partners, Mark Fawer and Carolyn Austin, the Greenspoon Marder team represented ACRES in the negotiation of the construction loan and with its due diligence on the project.

The Greenspoon Marder Real Estate team is well-positioned to assist our clients in the acquisition, development, and financing of all asset classes of real estate. Our skilled attorneys are able to strategically navigate our clients through the local business landscape and advise on a wide range of real estate matters. From straightforward “dirt” transactions to handling complex senior and subordinate real estate financings and equity investments, we are in involved in some of the most exciting real estate projects in the country. Our mission is to identify, analyze, and develop opportunities for our clients and advise them through the full real estate cycle in order to provide a seamless experience that achieves their business objectives. Click here to learn more on our real estate practice group.

About ACRES

ACRES is a direct lender and SEC-registered investment adviser that provides debt capital solutions for the commercial real estate industry on a nationwide platform. ACRES seeks opportunities in the $10 million to $75 million range on stabilized and transitional properties including multifamily, retail, office, hospitality, and industrial. As of December 31, 2020, ACRES has closed over $1.67 billion of transactions. www.acrescap.com

About Greenspoon Marder

Greenspoon Marder LLP is a full-service law firm with over 225 attorneys and more than 20 office locations across the United States. With operations from Miami to New York and from Denver to Los Angeles, our firm attracts some of the nation’s top talent in key markets and innovation hubs. Our core practice areas include Real Estate, Litigation, and Transactional Services, complemented by the capabilities of a full-service firm. Greenspoon Marder has maintained a spot on The American Lawyer’s Am Law 200 as one of the top law firms in the U.S. since 2015, and our goal is to provide exceptional client service by developing a thorough understanding of each client’s business needs and objectives in order to provide strategic, cost-effective solutions.

MEDIA CONTACT

Natalie Villanueva, Director of Marketing
954.333.4308 | [email protected]

This Greenspoon Marder LLP Client Alert is issued for informational purposes only and is not intended to be construed or used as general legal advice nor a solicitation of any type. Please contact the author(s) or your Greenspoon Marder LLP contact if you have any questions regarding the currency of this information. The hiring of a lawyer is an important decision. Before you decide, ask for written information about the lawyer’s legal qualifications and experience.

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Greenspoon Marder Represents ACRES Capital In Construction Financing Of $32.5M Student Housing Project

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