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Debt & Equity

TRANSACTIONS: Meridian Capital places $23,250,000 mortgage on NJ multifamily

Eastern Union Funding announced the following transactions:

• A $21,000,000 first lien mortgage for the acquisition of a 266-unit multifamily property in Kingston, NY. This transaction was arranged by Jeffrey Seidenfeld.

• A $17,600,000 first lien mortgage for the acquisition of a 309-unit multifamily property in Greenville, SC. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $17,200,000 first lien mortgage for the acquisition of an industrial property in Brooklyn, NY. This transaction was arranged by Ira Zlotowitz.

• A $16,100,000 first lien mortgage for the acquisition of a hotel in Princeton, NJ. This transaction was arranged by Meir Kessner.

• A $7,517,478 first lien mortgage for the acquisition of an industrial property in Williamsburg, IA. This transaction was arranged by Abe Kolman.

• A $7,250,000 first lien mortgage for the acquisition of a senior living facility in Montclair; NJ. This transaction was arranged by David Metzger, Moshe Feiner and Phil Krispin.

• A $6,262,000 first lien mortgage for the acquisition of a 48-unit multifamily property in Orange, NJ. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $5,157,522 first lien mortgage for the acquisition of an industrial property Montezuma, IA. This transaction was arranged by Abe Kolman.

• A $4,271,250 first lien mortgage for the acquisition of a 20-unit multifamily property in Bellmawr, NJ. This transaction was arranged by Meir Kessner.

• A $3,375,000 first lien mortgage for the acquisition of a retail center in Mansfield, OH. This transaction was arranged by Marc Tropp.

• A $2,055,000 first lien mortgage for the acquisition of a 15-unit multifamily property in Yonkers, NY. This transaction was arranged by Michael Wyne and Michael Wittmann.

• A $1,750,000 first lien mortgage for the refinance of a 16-unit multifamily property East Orange, NJ. This transaction was arranged by Jay Tyberg.

• A $1,240,000 first lien mortgage for the acquisition of a 12-unit multifamily property in Brooklyn, NY. This transaction was arranged by Jack Beida and Michael Muller.

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Emerald Creek Capital funded a $5,300,000 bridge loan in the Midtown East neighborhood of Manhattan. The loan is secured by a 8,028 s/f boutique condominium building containing four luxury residences. The loan was originated by ECC Senior Associate Scott Steinel.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $39,462,000 for the following properties:

• $27,112,000 combined financing for nine garden apartment buildings containing a total of 187 units, located throughout Nassau County, New York. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for these transactions.

• $4,600,000 combined financing for two four-story multifamily apartment buildings containing a total of 31 units, located in the Cobble Hill and Brooklyn Heights neighborhoods of Brooklyn, New York. Stephen Katz, Managing Director of GCP Capital Group, arranged the financing for these transactions.

• $4,250,000 for three contiguous five-story multifamily apartment buildings containing a total of 51 units, located on West 45th Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.

• $3,500,000 construction financing for the build out of two additional retail buildings of 12,000 square feet each to an existing retail property of approximately 56,000 square feet, located in Howell, New Jersey. Michael Charnowitz, Managing Director of GCP Capital Group, arranged the financing for this transaction.

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Hirschmark Capital announced the following transactions:

• $10,250,000 bridge loan secured by two industrial buildings and two multfiamily buildings in the Greenpoint neighborhood of Brooklyn. The buildings total 37,000 s/f. The borrower needed capital to purchase one of the industrial buildings. This transaction was negotiated by Jake Soodek.

• $2,000,000 bridge loan secured a development site in Long Island City and a mid-construction building in Ridgewood, Queens. The The mid-construction project has 10,000 bsf, 10 units. The borrower needed capital to acquire the Long Island City parcel and used the Ridgewood development as additional collateral. This transaction was negotiated by Marty Lewis.

• $7,500,000 acquisition loan secured by a mixed-use building in the Jackson Heights neighborhood of Queens. The subject property is a 25,000 s/f commercial building leased to a pharmacy, office, and hotel operator. This transaction was negotiated by Michael Fuller.

• $1,250,000 bridge loan secured by a mixed-use building in the East Williamsburg neighborhood of Brooklyn. The subject property is a 2,700 SF building with two apartments and 1 store and 5,500 BSF. This transaction was negotiated by Jake Soodek.

• $1,900,000 bridge loan secured by a future office/commercial building in the Gravesend neighborhood of Brooklyn. The subject property is an almost complete, 12,000 SF. The borrower needed capital to renovate and complete the subject property. This transaction was negotiated by Michael Fuller.

• $6,000,000 bridge loan secured by a retail condo and mixed-use building in lower Manhattan. The borrower needed capital to refinance and renovate one of the subject properties. This transaction was negotiated by Jake Soodek.

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Meridian Capital announced the following transactions:

• A new mortgage of $23,250,000 was placed by Meridian on a multifamily property totaling 347 units located on Clements Bridge Road Barrington, NJ. The loan features a rate of 3.75% and a five-year term. This transaction was negotiated by Elliott Birnbaum and Kerry Brick.

• A new mortgage in the amount of $7,500,000 on a 163-unit multifamily property located on East 79thStreet in New York, NY. The loan features a rate of 3.75% and a 10-year term. Steve Geller and Nicoletta M. Pagnotta negotiated this transaction.

• A new mortgage of $6,750,000 on a multifamily property totaling 18 units located on Claremont Parkway in Bronx, NY. The loan features a rate of 3.85% and a five-year term. This transaction was negotiated by David Bollag.

• A new mortgage in the amount of $5,600,000 on a 54-unit multifamily property located on West 188thStreet in New York, NY. The loan features a rate of 3.88% and a seven-year term. Michael Kesselman and Kerry Brick negotiated this transaction.

• A new mortgage of $3,400,000 on a multifamily property totaling nine units located on South 3rdStreet in Brooklyn, NY. The loan features a rate of 3.75% and a five-year term. This transaction was negotiated by Mark Brachfeld and Akiva Rosenberg.

• A new mortgage in the amount of $2,800,000 on a 60-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 3.75% and a five-year term. Zev Feder and Jason Bogopulsky negotiated this transaction.

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