Saber-Hightower, Rafferty and Eagle Realty Break Ground on $140 Million Ibex at Ridge Hill

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2▲1 ▼0Impact / 5
Summary · why it matters

A joint venture of Saber-Hightower, Rafferty Real Estate, and Eagle Realty Group, a subsidiary of Western & Southern Financial Group, has broken ground on The Ibex at Ridge Hill, a 17-story, 282-unit rental building in Yonkers, New York. Bank OZK is providing construction financing for the $140 million project, and the joint venture has closed on the land acquisition. The building, designed by Beyer Blinder Belle, will include 28 affordable units, 5,000 square feet of ground-floor retail, and 423 resident parking spaces within Ridge Hill's existing garage, with first units expected to be available in late 2028. The project caps a 12-year effort by Saber-Hightower Managing Principal Greg Belew to bring luxury rental housing to Ridge Hill, and was supported by the City of Yonkers, the Yonkers City Council, and the Yonkers Industrial Development Agency. Saber-Hightower is led by Marty Berger and Greg Belew.

Impact on assets 1

Financials▲
Bank Ozk
OZK
▲ PositiveCapitalrelevance

Bank OZK is providing construction financing for the $140 million Ibex at Ridge Hill project.

Off-coverage companies 5

Saber-Hightoweri
Private▲ PositiveCapitalrelevance

Saber-Hightower is a JV partner breaking ground on the $140M Ibex at Ridge Hill, capping its 12-year effort.

Eagle Realty Groupi
Private▲ PositiveCapitalrelevance

Eagle Realty Group, a Western & Southern subsidiary, is a JV partner on the $140M Ibex project.

Rafferty Real Estatei
Private▲ PositiveCapitalrelevance

Rafferty Real Estate is a JV partner breaking ground on the $140M Ibex at Ridge Hill.

Western & Southern Financial Groupi
Private▲ PositiveCapitalrelevance

Western & Southern Financial Group's subsidiary Eagle Realty is a JV partner on the $140M project.

Beyer Blinder Bellei
Private± Mixedrelevance