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BHI Extends $88M Bridge Loan for 845 Third Ave

Announced
Real Estate ServicesNew YorkOther

Deal Overview

BHI, the US commercial banking arm of Bank Hapoalim, provided an $88 million bridge loan to a special purpose entity jointly owned by Idan Ofer’s real estate arm and Metro Loft for the acquisition of 845 Third Avenue in Midtown East Manhattan. The financing is intended to restructure the property’s capital as the partners transition the asset from office use to residential.

The 21-story building spans about 350,000 square feet and is planned to be redeveloped into a 529-unit rental tower in Manhattan. Metro Loft will oversee completion of design, zoning optimization, and execution planning for the conversion.

Key Details

Transaction
Bank Hapoalim acquires Metro Loft
Deal Size
$50M – $100M
Reported Value
$88 million

Filed under

Source

Read full article on jpost.com

via GN - bridge loan acquisition · April 14, 2026

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