NEW YORK, NY - GAIA Real Estate, a leading full-service real estate investment firm, announced today that it has successfully extended its $48 million loan with Raymond James Bank for its Brooklyn, Williamsburg, multifamily property, 55 Hope.
The extension pushes the loan’s maturity to August 23, 2026, underscoring the strength of the property’s long-term performance and GAIA’s management.
GAIA originally acquired 55 Hope at the height of the COVID-19 pandemic when many investors and tenants were retreating from New York City. By providing tenant concessions at acquisition and upgrading the building amenities with a refurbished roof top and new co-working space, GAIA stabilized the property and positioned it for future growth. Today, the property’s net operating income is 30% higher than at the time of acquisition, emphasizing the resilience of both Brooklyn’s multifamily market and GAIA’s long-term investment strategy.
"We are proud to continue our partnership with Raymond James, which has supported us in realizing 55 Hope’s potential," said Danny Fishman, CEO and Cofounder at GAIA Real Estate. "This extension reflects both the strength of the property’s performance and our confidence in the market going forward."
Since its inception, GAIA Real Estate has built a strong record of accomplishment in real estate investment, acquiring more than 19,800 residential units across 87 properties, managing approximately $3.8 billion in assets, and delivering a 37.3% realized internal rate of return. GAIA’s investment strategy utilizes low leverage in periods of high interest rates –a tactic that has repeatedly proven successful.
For more information about GAIA and its latest projects, visit www.gaiare.com
About GAIA Real Estate: GAIA Real Estate Holdings is based in New York City and operates as a comprehensive real estate investment firm with in-house management expertise. Founded in 2009, GAIA and its partners have made significant investments in residential properties, working alongside prominent institutional investors and high-net-worth individuals. To date, the company has owned more than 19,800 apartment units and 87 properties, totaling an asset value of $3.8 billion. GAIA has achieved an impressive realized internal rate of return (IRR) of over 37% on 63 exited assets.