The Newmark-arranged deal arrives as Comunidad preps impact credit platform launch.
The tax could be up to 2.8% for New York City.
A subsidiary of the Canada Pension Plan Investment Board committed more than $500m to the fund.
Americas CIO Alfonso Munk says redevelopment and gap financing rank highly alongside equity priorities.
The Los Angeles-based workforce housing developer and owner continues to have conviction in high-barrier markets.
Robert Lapidus, L&L president and CIO, says the firm is looking past New York for its next deals.
The fixed-rate financing will back acquisition of five US student housing assets.
The firm, with its affiliate Dwight Mortgage Trust, will originate mezzanine debt and preferred equity on a wide swath of properties in the US.
The financing will be used for the development of a San Francisco project.
US investors will adopt more debt and opportunistic strategies this year, says the firm’s January Investor Intentions Survey.