Allstate Ventures Completes $145M Refinancing for New Rochelle Luxury Community

llstate Ventures lands a $125.8M bridge loan and $19.5M in preferred equity for The Alary, a 315-unit luxury community in New Rochelle, N.Y.

By: AXL Media

Published: Mar 12, 2026, 7:15 AM EDT

Source: https://www.multihousingnews.com/

Strategic Capital Structure

The financing was structured to provide maximum flexibility as the property enters its stabilization phase.

Bridge Loan: Originated by Greystone’s Donny Rosenberg and Jared Kaufman, the $125.8M loan features two six-month extension options.

Preferred Equity: Managed by Greystone Capital Advisors’ Matthew Zisler, with Forum serving as the preferred equity partner.

Timing: The refinancing arrives just months after the project’s October completion, replacing construction debt with more flexible bridge capital.

Asset Profile: The Alary