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

News Jan 29, 2021 New York, NY

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 is a national full-service business law firm with over 200 attorneys and offices across the United States. We are ranked among American Lawyer’s Am Law 200, as one of the top law firms in the U.S. since 2015. Our firm was founded with the goal of providing the highest quality legal services at the highest value for our clients. Each of our clients is unique and so are their legal needs. We believe no one size fits all for professional services. Our lawyers offer flexible and creative solutions to meet our clients’ respective needs. Our mission is to understand the challenges our clients face, build collaborative relationships and craft solutions with a focus on strategic goals.

MEDIA CONTACT
Natalie Villanueva, Director of Marketing
954.333.4308 | natalie.villanueva@gmlaw.com

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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