Newmark has arranged a $71.85 million loan on behalf of owner and developer, SomeraRoad, to refinance The Park at SouthSide Works, a newly constructed, highly amenitized seven-story luxury multifamily property in Pittsburgh, Pennsylvania.
The financing was secured from Barings by Newmark’s team comprising Jordan Roeschlaub, Nick Scribani, Chris Lozinak and Sam Speciale. Completed in late 2024, the property features 247 units with a mix of junior one-bedroom apartments through two-story townhome units.
Located on one of the few remaining waterfront parcels in downtown Pittsburgh, the property provides direct access to major employment and entertainment hubs just steps away in SouthSide Works and in Oakland, and downtown via the Hot Metal Bridge and Penn Lincoln Parkway. The Park at SouthSide Works is strategically located in close proximity to UPMC, Carnegie Mellon, and The University of Pittsburgh.
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