Walker & Dunlop arranges $148m refinance for tallest building in Harlem
Transactions - JULY 10, 2024

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Walker & Dunlop arranges $148m refinance for tallest building in Harlem


Walker & Dunlop announced that it arranged $148 million in loan proceeds to refinance The Victoria, a multi-tower, 30-story project built around Harlem’s heralded Victoria Theater redevelopment.

The Walker & Dunlop New York Capital Markets team acted as exclusive advisors to the clients, Lam Group and Exact Capital. The team identified Aareal Capital as the lender to secure the loan. The loan will support ongoing operations and future enhancements of this project, known for its rich cultural heritage and strategic location.

The Victoria, originally built around Harlem’s historic Victoria Theater, blends luxury residences, a Marriott-branded Renaissance Hotel, and retail space. The project, completed in third quarter 2023, stands as Harlem’s tallest building, offering 191 luxury residences, a 211-key hotel and more than 23,000 square feet of retail space. The development also includes 52 below-grade parking spaces.

The Victoria is near major retail

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