TNW Capital, a lending platform owned by Joseph Tabak and Ran Eliasaf, has closed on a $69 million loan to Yoel Goldman’s All Year Management.
The senior loan is secured by a portfolio of ten properties located across Brooklyn in the Williamsburg, Bushwick and Bedford-Stuyvesant neighborhoods.
The portfolio is comprised of 65 Kent Avenue, 61 North 9th Street, 141 Spencer Street, 169 Graham Ave, 735 Bedford Avenue, 1010 Bedford Avenue, 268 Metropolitan Avenue, 1157 Myrtle Avenue, 394-396 Gates Avenue, and 476-478 Lafayette Avenue.
The package represents a mix of residential, commercial and retail properties owned by All Year Management.
The announcement of the three-year fixed-rate loan was made by Tabak, chairman of Princeton Holdings, and Eliasaf, managing partner of Northwind Group, who co-founded TNW Capital last year as their joint venture lending platform.
“As owners and operators ourselves, we feel very comfortable providing such loans,” said Tabak. “We intend for TNW Capital to become a dominant player in the debt market as we are able to tackle large complex transactions,”
Eliasaf added, “We are very pleased with this closing and plan for TNW Capital to deploy over $1 billion in debt secured by real estate, primarily in the New York area leveraging our extensive network, know-how and significant real estate experience.”
Northwind Group is a Manhattan based owner/operator. Princeton Holdings LLC is an investment firm with a focus on opportunistic and value-add investing in New York and other major United States markets. Princeton acquires and redevelops properties outright for its own account and in partnership with third party investors.