First Citizens Bank Provides $74 Million for Multifamily Building in Downtown Brooklyn

Group 1 - First Citizens Bank announced a $74 million senior secured loan to Lonicera Partners for a 23-story multifamily building in Downtown Brooklyn, featuring 160 luxury apartment units and over 8,600 square feet of retail space [1][2] - Lonicera Partners, founded in 2010, focuses on residential development projects in Downtown Brooklyn and has a strong track record in multifamily developments in the greater NYC area [2][3] - The partnership between First Citizens Bank and Lonicera Partners is based on previous positive experiences in commercial real estate financing, highlighting First Citizens' expertise in tailored financing solutions [2][3] Group 2 - The building at 310 Livingston Street is considered a valuable asset due to its location in a high-growth area and the state-of-the-art amenities it offers [3] - First Citizens Commercial Real Estate specializes in originating and underwriting senior secured real estate financing for various property types [3] - First Citizens Bank is a top 20 U.S. financial institution with over $200 billion in assets, providing a wide range of banking services across 30 states [4]