M&T Realty Capital Corporation® (M&T RCC) is pleased to announce the closing of a $55.7 million bridge loan for LiveWell Apartments, a newly redeveloped office-to-residential conversion project. The 253‑unit Class-A multifamily community is located at 550 Wood Street in the heart of Downtown Pittsburgh (www.rentlivewell.com). The property stands at the nexus of the Cultural District and Market Square neighborhoods and near the Strip District.

The historic former GNC office headquarters was fully renovated in 2025 into modern residential units with premium finishes, 13-foot ceilings and extensive amenities including a fitness center, rooftop lounge, coworking suites and garage parking. The redevelopment of LiveWell Apartments qualified for Federal and State Historic Tax Credits, recognizing the Sponsor’s preservation of the property’s architectural significance.

The bridge loan allows the Sponsor, GPG Victrix, to stabilize occupancy and operations. Additionally, leasing momentum has exceeded expectations, reflecting strong demand for high‑quality downtown housing and the continued revitalization of Pittsburgh’s urban core.

“We are proud to contribute to Pittsburgh by converting this Daniel Burnham-designed building into apartments. M&T RCC was wonderful to work with, conducting thorough underwriting while taking time to understand both the project and the city. We were also proud to receive support from Pittsburgh mayor, Mayor Corey O’Connor, who has been a tremendous advocate for the city. This project brings together a great city, a great building and an exceptional banking partner,” said GPG Victrix.

“This bridge financing gives the sponsors flexible, timely capital to complete lease-up,” said Robert Barry, Senior Vice President at M&T RCC who originated the deal. “We’re excited to partner with GPG Victrix on upcoming projects and continue cultivating a strong, long-term relationship.”