Trellis originated a senior loan funding the final phase of completion for an affordable multifamily and retail property in a New York outer-borough submarket. The affordable housing segment benefits from persistent structural demand in a chronically supply-constrained market — dynamics that support stabilized occupancy and long-term asset value.

The property was substantially vertical at origination, with hard costs largely bought out. Trellis structured the position to fund remaining completion against a defined scope of work, with a long-dated tax abatement supporting exit value at agency refinancing.