Moinian Group Begins Manhattan Office-to-Resi Conversion, RHP Secures $830M Refi and More!

Why It Matters

The financing surge signals confidence in multifamily and adaptive‑reuse projects, positioning developers to address housing shortages and deliver affordable units amid tightening credit conditions.

Key Takeaways

• Moinian Group converts 17 Battery Place office to 200 apartments
• 25% of new Manhattan units will be permanently affordable
• RHP secures $830 M loan for 8,300‑site manufactured housing portfolio
• Multiple Midwest and South projects break ground, targeting 2026‑27 completions
• New financing deals highlight continued demand for multifamily and built‑to‑rent

Summary

Developers announced a wave of financing and construction projects across the United States, highlighted by Moinian Group’s office‑to‑residential conversion at 17 Battery Place in Lower Manhattan and RHP Properties’ $830 million loan for a manufactured‑housing portfolio.

Moinian will transform roughly 150,000 sq ft of office space into about 200 apartments, with 25 % earmarked for permanent affordability and completion targeted for early 2027. Simultaneously, Henderson Park and Green Room Partners broke ground on a 270‑home built‑to‑rent community in South Carolina, ACRE secured a $124 million senior loan for a 340‑unit Miami project, and a Chicago joint venture obtained a $102 million construction loan for a 400‑unit Fulton Market development.

The announcements underscore a continued appetite for multifamily and built‑to‑rent assets, as lenders such as Wells Fargo, Bank OZK and Canyon Partners commit sizable capital. Notably, RHP’s loan covers roughly 8,300 pad sites across 40 assets, illustrating the scale of institutional interest in manufactured housing.

These deals suggest that developers are leveraging both adaptive reuse and new construction to meet persistent demand for housing, especially affordable units, while investors view these sectors as resilient revenue generators in a volatile market.

Original Description

Here's a breakdown of some of MHN's top #multifamily news from last week.

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