CRE

For decades, if you needed construction financing in the US, you went to a bank. That’s no longer the whole story.

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided financing support to returning customer Oak Funding in connection with its $16.5m loan secured against 12 Berry Street in Williamsburg, Brooklyn.

There’s a persistent assumption in US CRE lending that adding affordable housing makes a development harder to finance. Adam Ehrenreich, Associate Director in OakNorth’s Debt Finance team, on why the fundamentals matter more than the label.