DMG Investments Secures $24.5M in Financing to Build Albany Apartment Complex

By David Lemon.
Updated Aug 19, 2021

NEW YORK (PRWEB) August 19, 2021 - Leading residential and commercial real estate investment firm DMG Investments has secured $24.5M in financing to construct a new residential living complex in the heart of Albany. Financed by Northwest Bank, the construction loan paves the way for the firms six story, 136 residential unit property named The Air. Located at 1211 Western Avenue, the building is slated for completion in July 2022.

Construction has already begun on the property and its central location near University of Albany and Capital Regions is expected to garner interest from prospective residents. The mixed use complex will also include retail space on the ground floor. Were very excited to break ground on our latest project in Albany. said DMG Investments CEO Jacky He. Its the latest addition to our growing contribution to the city, including our premier student housing community Auden Albany.

About DMG Investments Headquartered in New York City at 100 Wall Street, DMG Investments LLC ('DMG') was established in 2013.

DMG focuses on real estate acquisitions, development and management as well as financing. Leveraging the expertise of a team of dedicated real estate professionals with decades of experience creating and adding value for investors, DMG has amassed a portfolio of best-in-class assets across the US in dynamic markets in New York, New Jersey, Texas, Tennessee, Wisconsin, and South Carolina.

As the portfolio continues to grow, DMG is dedicated to providing amenities and services that enhance the livability of each project be it in the student housing, traditional multifamily or condominium sector. In the years to come, the goal of DMG is to become a global real estate enterprise with a world-class reputation for sustainable development and a business philosophy that emphasizes the importance of delivering value for investors, owners and residents.

About Northwest Bank Northwest Bancshares, Inc. is the holding company of Northwest Bank, which is headquartered in Warren, Pennsylvania. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, as well as employee benefits and wealth management services. As of June 30, 2021, Northwest operated 162 full-service community banking offices and eight free standing drive-through facilities in Pennsylvania, New York, Ohio and Indiana. Northwest Bancshares, Inc.s common stock is listed on the NASDAQ Global Select Market (NWBI). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed online at http://www.northwest.com.