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Debt & Equity

TRANSACTIONS: Houlihan-Parnes mortgages Bronx retail; Washington Trust finances Dollar General deal

Houlihan-Parnes Properties announced the following transactions:
• Mortgage financing totaling $3,500,000 on three retail properties in the Bronx; 134 West Fordham Road, 1735 University Avenue and 26 West Kingsbridge Road; and one in Yonkers, NY on 575-585 Central Park Avenue. The properties are all multi-tenanted, single-story retail buildings in thriving urban locations. Michael Cuniberti, Jeremiah A. Houlihan and James Coleman arranged separate refinancings with a Long Island-based bank for 5-year terms at 4.625% interest and 30-yr amortization schedules. The loans were done at par and have sliding scale prepayment penalties and include 5-year options to extend. The borrower was represented by Christie L. Houlihan, Esq. and title provided by First American Title.
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Washington Trust’s Commercial Real Estate Group recently provided $1.34 million in financing to MCG Cromwell, LLC, for the construction of a Dollar General store in Cromwell, Connecticut. Located on a 1.2 acre parcel at 539 Main Street (Route 99) in Cromwell, the new retail property will feature 9,100 s/f of space. Dollar General was founded in 1939 and operates more than 13,600 stores across 44 states.
Julia Anne M. Slom, senior vice president & Team Leader of Washington Trust’s Commercial Real Estate Group, made the announcement.
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Eastern Union Funding announced the following transactions:
• A $2,600,000 first lien mortgage for the refinance of a 30-unit multifamily on Red Top Rd in Takoma Park, MD. This transaction was arranged by Marc Tropp and Barry Dollman.
• A $1,750,000 first lien mortgage for the refinance of a 24-unit mixed-use on 40th St in Brooklyn, NY. This transaction was arranged by Jay Tyberg.
• A $1,381,000 first lien mortgage for the acquisition of a 13-unit mixed-use on Fox St in Bronx, NY. This transaction was arranged by Judah Aderet.
• A $1,350,000 first lien mortgage for the acquisition of an industrial property on Kuniholm Dr in Holliston, MA. This transaction was arranged by David Metzger and Becky Friedler.
• A $1,200,000 first lien mortgage for the acquisition of a 15-unit multifamily on Elmwood Ave in Irvington, NJ. This transaction was arranged by Chesky Gross.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $56,925,000 for the following properties:
• $30,350,000 for a twenty-seven story multifamily apartment building containing 264 units, located in Yonkers, New York. Paul Greenbaum, Managing Member, arranged the financing.
• $17,975,000 for a six-story multifamily apartment building containing 107 units, located in the Gravesend neighborhood of Brooklyn. Stephen Katz, Managing Director, arranged the financing.
• $4,500,000 for a four-story multifamily apartment building containing 60 units, located in New Haven, Connecticut. Adam Brostovski, Principal, arranged the financing.
• $4,100,000 for a newly constructed residential apartment complex containing two multifamily buildings with a total of 18 units, located in West Babylon, Suffolk County, New York. Matthew Classi, Managing Member, arranged the financing.
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Meridian Capital announced the following transactions:
• A new $900,000 mortgage on a 25-unit multifamily property located on West 47th Street in New York, NY. The loan features a rate of 3.75% and a five-year term. Isaac Filler negotiated this transaction.
• A new mortgage of $4,000,000 on a multifamily property totaling nine units located on West 82nd Street in New York, NY. The loan features a rate of 4.00% and a five-year term. This transaction was negotiated by Bryan Geffen.
• A $2,750,000 new mortgage on a cooperative property located on Bogardus Place in New York, NY. The loan features a rate of 4.02% and a 10-year term. Avi Geller and Nicoletta Pagnotta negotiated this transaction.
• A $2,500,000 mortgage on a mixed-use property located on Broadway in New York, NY. The loan features a rate of 4.50% and a five-year term. This transaction was negotiated by Allan Lieberman.
• A new mortgage of $1,500,000 won a multifamily property totaling 20 units located on West 45th Street in New York, NY. The loan features a rate of 4.03% and a 10-year term. This transaction was negotiated by David Ostrov.
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Knighthead Funding announced the following closed loan transactions:
• $10,000,000 first mortgage refinance of an ~19,000 SF commercially-occupied brownstone on Gramercy Park, NY
• $10,000,000 – 1st mortgage construction loan on a 28 unit townhome project in the Berkeley section of Denver, CO.
• $8,500,000 first mortgage refinance and construction completion of a 104-key Holiday Inn in Savannah, GA
• A $7,290,000 first mortgage refinance of a fully entitled 1.26 acre, 67 unit multifamily development site in Houston, TX.

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