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September 18, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Besen arranges financing for Harriman transit-oriented development

Besen, a New York City-based real estate advisory and brokerage firm, said that its capital markets group has arranged the financing for the purchase of 130 acres for a proposed development called The Gardens at Harriman Station.

The project would create a $500 million mixed-use, transit-oriented development next to the Harriman Metro-North Railroad station, about a mile south of Woodbury Common Premium Outlets.

The project calls for a walkable community with apartment housing and retail stores. Besen arranged the loan for this project with Gamma Real Estate of New York City and the equity from Targeted Capital Solutions in Westport.

“We were able to put together a great team for our client, The Gardens at Harriman Station LLC,” said Matthew Slonim, chief operating officer of Besen. “Gamma offered the optimal mix of both rate and proceeds, along with term flexibility. Targeted brought the required equity and development expertise to the project and will assist in the development management.”