JPMorgan Lends $675M on Black Spruce’s Acquisition of American Copper Buildings
Black Spruce Management and Orbach Affordable Housing Solutions have landed $675 million in acquisition financing for the American Copper Buildings at 626 First Avenue, Commercial Observer has learned. JPMorgan provided the loan, in a transaction arranged by Cushman & Wakefield’s Gideon Gil and Zachary Kraft. “We are thrilled to advise sponsorship in their acquisition of this trophy asset,” Gil said. “Lender interest for best-in-class multifamily rental assets remains strong.