Rose Associates JV Lands $116M Fannie Mae Refinancing for Yonkers Waterfront Community

A joint venture between Rose Associates and Battery Global Advisors refinances Alexander Crossing, a 440-unit luxury asset in Yonkers, with $116M from Fannie Mae.

By: AXL Media

Published: Mar 12, 2026, 7:09 AM EDT

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

Refinancing Evolution and Capital Stack

The $116 million Fannie Mae package represents the transition of the asset from construction to long-term permanent financing.

Debt History: The new loan replaces a $112.7 million refinancing from Affinius Capital (July 2024), which itself retired a $107.4 million construction loan originated in 2021.

Advisory Team: The Walker & Dunlop team, led by Aaron Appel and Keith Kurland, has navigated the asset's capital needs from its 2021 groundbreaking through its 2024 completion.

Public Support: The project also benefited from $3 million in support from the Yonkers Industrial Development Agency.

Asset Profile: Alexander Crossing