Stewards refinances Block 40 property with USD 69 million senior secured loan from VMC CRE Master Lending Upper REIT

PUBT · 2d ago
Stewards refinances Block 40 property with USD 69 million senior secured loan from VMC CRE Master Lending Upper REIT
  • Stewards subsidiaries closed a USD 69 million senior secured loan on July 24, 2026 to refinance the Block 40 / 1818 Park multifamily property.
  • The senior loan was amended and restated with no new principal advanced; pricing set at Term SOFR + 3.5%, stepping down to Term SOFR + 3%.
  • A USD 10 million mezzanine loan closed alongside the senior facility, secured by a pledge of equity interests in the mortgage borrower.
  • The mezzanine loan carries Term SOFR + 12% with a 14.5% floor, stepping to Term SOFR + 10.5% with a 14% floor.
  • Both loans mature Aug. 7, 2028 with three one-year extension options; each includes 1% origination and exit fees.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Stewards Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001663577-26-000236), on July 30, 2026, and is solely responsible for the information contained therein.