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Debt & Equity

TRANSACTIONS: MMCC’s cross country dash; StackSource closes Brooklyn deal

Marcus & Millichap Capital Corperation announced the following transactions:
• A $2,635,000 acquisition loan was arranged for a Walgreens in Windermere, Florida. The
financing was arranged by Andrew Marcus and Andrew Dansker.
• A $1,865,000 acquisition loan was arranged for Wawa, a convenience store and gas station in Clearwater, Florida. The financing was arranged by Andrew Marcus and Andrew Dansker.
• A $1,500,000 refinance was arranged for a 28-unit multifamily property located in Allston, Massachusetts. The financing was arranged by Andrew Dansker.
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CV Capital Funding recently announced the following transactions:
• A $4,750,000 first mortgage for the refinance loan on a 43,706 sf flex industrial property in Lake Bluff, IL and a 62,234 sf flex industrial property in Mundelein, IL. The deal was arranged by Anthony Lervolino.
• A $4,420,000 first mortgage acquisition loan for the purchase of a 81,651 sf Retail Center in Elkhart, IN The deal was arranged by Anthony Bervolino.
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StackSource announced the following transactions:
• $2,125,000 non-recourse loan on a stabilized multifamily property in Brooklyn, closed with a local bank in New York at 4.55%.
• $1,600,000 loan on a NNN-leased IHOP location in Athens, GA with a national bank.
• Atlanta-area NNN-leased IHOP in a separate transaction, $1,200,000 closed at 4.75% from a local credit union.
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NorthMarq announced the following transactions:
Charles Cotsalas, senior vice president of NorthMarq’s Long Island regional office, arranged a cash-out refinance of $3,750,000 for a 71,000 s/f industrial building in Melville, New York. The non-recourse, entity only transaction, locked at 4.33 percent, was structured with a 10-year fixed-rate loan on a 25-year amortization schedule. NorthMarq arranged financing for the borrower, 100 Marcus Drive Associates through its correspondent relationship with 40 | 86 Mortgage Capital, Inc., a life insurance company.
Charles Cotsalas secured the $4 million cash-out refinance of an 82,835 s/f industrial property located at 90 Nicon Court in Hauppauge, New York. The non-recourse, entity only transaction, locked at 4.33 percent, was structured with a 10-year fixed-rate loan on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower, 90 Nicon Realty, LLC, through its correspondent relationships with Lincoln Financial Group, a life insurance company. The building is fully occupied by W.B. Mason.
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Leviathan Capital announced the following transactions:
• A $6,425,000 construction loan for a spec home in Water Mill, NY. The loan featured an indicative rate of 8.06%. The lender charged a 1% origination fee. The financing was originated and negotiated by Joe Hach.
• A $1,650,000 land loan for a future development site in Los Angeles, CA. The 24-month loan featured a rate of 8.50% and funded 75% of the purchase price. The financing was originated and negotiated by Andrew Schnissel.
• A $1,450,000 mixed-use refinance in Bushwick. The 5-year fixed rate deal featured a rate of 4.375% and a 30-year amortization schedule. The financing was originated and negotiated by Yaron Cohen.
• A $660,000 for a land loan for a multifamily/senior housing development site in Rockland County, NY. The loan closed in less than three weeks. The financing was originated and negotiated by Joe Hach.
• A $540,000 loan for this multifamily building in Coney Island, Brooklyn. The 5-year loan featured a rate of 4.25% and a 30-year amortization. The financing was originated and negotiated by Yaron Cohen.
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Juniper Capital Group’s originations team announced the closing of four acquisition, renovation and cash out refinance loans for approximately $26.8 million across four states.
• A $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468 s/f big-box retail shopping center in Troy, Michigan. The borrower was Avram Weissman of the Weissman Corporation and the lender was C3 Capital Partners. The term of the non-recourse loan was 24 months at libor + 400. Nate Lowy negotiated the finance deal in with a 75% LTV bridge loan to allow the borrower to bring the property to stabilization.
• Classic American, a 150-unit rental garden apartment style multifamily complex in Syracuse, New York received a $6 million cash-out refinance 10-year loan that features a two-year interest-only period. Nate Lowy negotiated the deal on behalf of the borrower, Abraham Motechin of Vintage Management and the lender, Hunt Mortgage Group.
• A $5.3 million (FNMA loan) for The Regency at Raleigh, a 200-unit multifamily building in Memphis, Tennessee. The ten-year loan recently reached stabilization. Nate Lowy negotiated the financing with the lender, Arbor Realty Trust.
• A $5 million Freddie Mac loan for a 135-unit multifamily portfolio of garden style townhomes in Hartford, CT. The loan features a three year interest only period with a flexible prepay structure. Nate Lowy negotiated the financing with the lender, Arbor Realty Trust. The properties utilized Freddie’s link loan program to achieve aggressive terms.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $41,125,000 for the following properties:
• $18,300,000 combined financing for a package of five six-story multifamily apartment buildings containing a total of 191 units and 2,850 square feet of commercial space, located in the Fort George and Washington Heights neighborhoods of Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for these transactions.
• $9,600,000 for a six-story multifamily apartment building containing 25 residential units and 4 commercial units, located on the Upper East Side of Manhattan, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $9,500,000 for a six-story multifamily apartment building containing 43 units and 6,200 square feet of commercial space, located on West 176th Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $3,725,000 combined financing for two five-story multifamily apartment buildings containing a total of 32 units, located on University Avenue in the Bronx, New York. David Sessa, Managing Director of GCP Capital Group, arranged the financing for these transactions.
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Eastern Union Funding announced the following transactions:
• A $8,230,000 first lien mortgage for the acquisition of a 264-unit multifamily in Dothan, AL. This transaction was arranged by David Metzger.
• A $8,100,000 first lien mortgage for the acquisition of a healthcare facility on Cleveland Ave in Columbus, OH. This transaction was arranged by Nachum Soroka and Phil Krispin.
• A $7,925,000 first lien mortgage for the refinance of a hotel in Knoxvill, MD. This transaction was arranged by Marc Tropp.
• A $7,622,000 first lien mortgage for the acquisition of a 139-unit mixed-use on Catlin St in Meriden, CT. This transaction was arranged by David Metzger.
• A $5,710,000 first lien mortgage for the acquisition of a 41-unit multifamily on Kelly St in Bronx, NY. This transaction was arranged by Michael Muller.
• A $1,800,000 first lien mortgage for the refinance of a condo on W 25th St in New York, NY. This transaction was arranged by Ira Zlotowitz.
• A $1,762,500 first lien mortgage for the acquisition of a multifamily property on 21st St NW in Washington, DC. This transaction was arranged by Marc Tropp.
• A $1,570,000 first lien mortgage for the refinance of a multifamily property on Madison St in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
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Knighthead Funding announced the following 2018 closed loan transactions:
• $36,000,000 – 1st mortgage on a newly constructed 170,000 SF, 214-key hotel in Atlanta, GA.
• $23,000,000 – 1st mortgage secured by a corporately-owned waterfront home in Miami Beach, FL.
• $22,000,000 – 1st mortgage refinance and construction to convert an industrial property to single tenant retail in Williamsburg section of Brooklyn, NY.
• $21,500,000 – 1st mortgage acquisition loan secured by 2 vacant properties on Congress Street in Downtown Boston, MA.
• $20,000,000- 1st mortgage construction loan for a 44 unit condominium project in the LoHi section of Denver, CO.
• $15,000,000 – 1st mortgage acquisition loan secured by a residential development site containing of buildable 84,000 s/f in Flushing, Queens, NY.
• $12,400,000 – 1st mortgage secured by a corporately-owned residential condominium in Midtown Manhattan, NY.
• $12,400,000 – 1st mortgage acquisition loan of a development site in the Midtown section of Houston, TX.
• $11,000,000 – 1st mortgage acquisition and construction loan on a waterfront home to be developed in Palm Beach, FL.
• $11,000,000 – 1st mortgage acquisition and construction loan on a waterfront home to be developed on San Marino Island in Miami Beach, FL.
• $10,000,000 – 1st 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 – 1st mortgage refinance and construction completion of a 104-key Holiday Inn in Savannah, GA.
• $7,290,000 – 1st mortgage refinance of a fully entitled 1.26 acre, 67 unit multifamily development site in Houston, TX.

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