AMA Financial & MetCap Advisors secure construction financing
NARBERTH, PA — AMA Financial, LLC, in conjunction with Metropolis Capital Advisors LLC have successfully arranged the heavily structured 90% financing for the construction of Midtown Row’s retail and student housing project in Williamsburg, VA. AMA’s Gregg Wallace, along with MetCap’s Structured Finance team, led by Cliff Mendelson and Albert Missirlian, sourced $93 million in debt and equity for the project. Serving the college of William & Mary, Midtown Row is a curated retail experience and residential district located at “Main and Main” in the heart of Williamsburg, VA. The project includes restaurants, shops, apartments, entertainment, office space, as well as a village green featuring outdoor programming and community event space. Current plans for the student housing portion consist of four, 5-story buildings featuring 240 units (624 beds) ranging in size from one to four bedrooms, as well as over 56,000 s/f of retail and 6,500 s/f of office and a 2-level parking garage. Additionally, the residents will benefit from amenities such as a fitness center, pool, study rooms, lounge, a dog park, a game room and a leasing office. Completion of the project is scheduled for Summer 2021. “It was a pleasure working with MetCap’s Structured Finance team, including Cliff Mendelson and Albert Missirlian,” said Wallace. AMA Financial, LLC was founded in 2003 and is based in the Philadelphia metro region. Metropolis Capital Advisors LLC is a capital markets advisory firm specializing in structured financing and investment sales transaction services.