The financing, partly provided by the former’s Eldridge Real Estate Credit strategy, has been secured by Ballymore Group and Penta Real Estate.
The firms will use this capital to deliver The Capston which is scheduled for completion in 2028.
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This will include 247 apartments, across one-, two- and three-bedroom configurations. A gym, pool, sauna and steam room will be included onsite as well as 24/7 concierge service co-working space, lounge, bar, terrace and private chef’s kitchen.
“We are delighted to support Ballymore and Penta,” said Harvey Sandhu, senior vice president of real estate debt at Starwood Capital.
“The Capston exemplifies the type of high-quality, thoughtfully designed project that aligns with our strategy of financing best-in-class sponsors in markets with strong long-term fundamentals.”
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