Chinese builder gets $70M loan for luxury rental River Club in Yonkers

Strategic Capital, the investment arm of Jersey City-based China Construction America (CCA), has secured a $70 million loan to finance its River Club at Hudson Park development in Yonkers, the Daily Voice Plus reported. Newmark Knight Frank arranged the loan from investment giant Guggenheim Partners on behalf of Strategic Capital. The Hudson Park project covers 16 acres of Yonkers waterfront. Earlier this year, Strategic Capital began leasing at the River Club, a 213-unit luxury rental building located at 63 Wells Avenue that opened its doors in May. Units in the building start at $1,720 for studios, $2,190 for one-bedrooms and $2,870 for two-bedrooms. The River Club has a garage with room for 206 vehicles, an indoor pool, a fitness center, a rooftop lounge and 24-7 concierge services. The River Club’s opening was hailed as an example of U.S.-China cooperation at a time of heightened tensions between both countries. Strategic Capital’s parent, CCA, is itself a subsidiary of Beijing-based China State Construction Engineering Corporation. [DVP] —Brian Baxter