Breaking News

>

Transactions: HFF’s $10M loan for Mount Laurel property, Eastern Union’s $4m loan in the Bronx

Meridian Capital announced the following transactions:

  • A new mortgage in the amount of $6,000,000 on a six-story, 83-unit multifamily property located on Castle Hill Avenue in the Bronx, NY. The loan features a rate of 2.90% and a five-year term. Cary E. Pollack and Steve Cohen negotiated this transaction.
  • A new mortgage of $7,000,000 was placed by Meridian on a four-story, 34-unit multifamily property located on Bainbridge Street in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
  • A new mortgage in the amount of $5,800,000 on a five-story, 20-unit multifamily property located on West 36th Street in New York, NY. The loan features a rate of 3.25% and a five-year term. Shamir Seidman and Daniel Neiss negotiated this transaction.
  • A new mortgage of $2,875,000 was placed by Meridian on a six-unit multifamily property located on Skillman Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Ami Levin and Samuel Goldstein.
  • A new mortgage in the amount of $1,700,000 on a four-story, 47-unit multifamily property located on Ocean Parkway in Brooklyn, NY. The loan features a rate of 2.90% and a five-year term. Mark Brachfeld and David Liechtung negotiated this transaction.
  • A new mortgage of $1,560,000 was placed on an eight-unit multifamily property located on East 23rd Street in Brooklyn, NY. The loan features a rate of 3.125% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.

•••

Denholtz Associates secured a 7-year, $3.788 million refinancing on two of its flex properties totaling 27,332 square feet at 89 and 225 Terminal Avenue in the Clark Commercial Center. Brad Fouss represented OceanFirst Bank in the refinance negotiations.  89 Terminal Avenue, with 13,464 square feet of space leased by KinderCare, and 225 Terminal Avenue, with 13,868 square feet of space leased by Retro Fitness. Denholtz Associates purchased the 10 building, 283,201 s/f Clark Commercial Center in a joint venture with MB1 in 2015.

•••

Holliday Fenoglio Fowler announced the following transactions:

  • $10 million in financing for the acquisition and repositioning of a 305,250 s/f Class A industrial warehouse property in the suburban Philadelphia community of Mount Laurel, New Jersey. HFF worked on behalf of the borrower, a partnership between affiliates of Endurance Real Estate Group and Thackeray Partners, to secure the financing through an institutional lender. Situated on 43.48 acres at 2000 Bishops Gate Boulevard in Mount Laurel, the building is located within the 1.45 million-square-foot, master-planned Bishops Gate Corporate Center. The 2000 Bishops Gate Boulevard building is currently available for lease. After the repositioning, the property will be reconfigured to increase the amount of warehouse space and reduce the amount of existing office space to meet the immediate market demand for Class A bulk distribution warehouse space in southern New Jersey. The HFF team representing the borrower was led by managing director Ryan Ade, senior managing director Kevin MacKenzie and director Campbell Roche.
  • A $9.5 million refinancing for a 91,297 s/f light industrial building located at 930 North Riverview Drive in the North New Jersey community of Totowa. HFF worked on behalf of the borrower, Tulfra Real Estate (Tulfra), to place the five- year, fixed-rate loan with Lakeland Bank. Tulfra purchased the larger 225,336 s/f light industrial building in February 2015, which was 46 percent leased at the time. Tulfra redeveloped the building into a commercial condominium, with one unit being repositioned into a 100,000 s/f, Class A self-storage facility co-developed with the Hampshire Companies. HFF arranged construction financing in October 2016 for this venture, and the balance of the property is being financed in this transaction. Completed in 1962, the property served as the primary bakery for Thomas’ English Muffins and supplied the entire East Coast until 1998 when it was developed into a Class A multi-tenant facility. The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and managing director Michael Klein.

•••

Eastern Union Funding announced the following transactions:

  • A $4,000,000 first lien mortgage for the refinance of a 72-unit multifamily on Bedford Park Blvd. in Bronx, NY. This transaction was arranged by Nate Hyman and David Metzger.
  • A $3,025,000 first lien mortgage for the refinance of a 14,000 sf, 10-unit retail property on Ralph Ave. in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
  • A $2,250,000 first lien mortgage for the refinance of a 16-unit multifamily on E 184th St. in Bronx, NY. This transaction was arranged by Nate Hyman and David Metzger.
  • A $1,900,000 first lien mortgage for the refinance of a 6-unit multifamily portfolio in Brooklyn, NY. This transaction was arranged by David Singer.
  • A $1,000,000 first lien mortgage for the refinance of a 3-unit office building on Guy R Brewer Blvd. in Jamaica, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
  • A $975,000 first lien mortgage for the acquisition of an 18-unit, mixed-use property on Central Ave. in Orange, NJ. This transaction was arranged by Jonathan Singer.
  • A $925,000 first lien mortgage for the refinance of a 3-unit multifamily on Madison St. in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.

•••

GCP Capital Group arranged mortgage financing in the aggregate amount of $51,800,000 for the following properties:

  • $18,000,000 for a six-story, mixed-use building containing 75 apartments and 16 commercial units, located on Grand Concourse in the Bronx, New York. Jack Fried, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
  • $14,100,000 for a six-story multifamily apartment building containing 47 units, located on St. Nicholas Avenue in Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
  • $8,200,000 for a 126,000 gross square foot, four-story office building with 50 units, located in Peekskill, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $7,500,000 for a nine-story multifamily apartment building containing 44 units, located in the Pelham Bay section of the Bronx, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
  • $4,000,000 for a six-story multifamily apartment building containing 54 units, located on 90th Avenue in Queens, New York. Alan Perlmutter, Managing Member, and George Spanos, Senior Associate of GCP Capital Group, arranged the financing for this transaction.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyrıght 2013 FUEL THEMES. All RIGHTS RESERVED.