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Deals & Dealmakers

TRANSACTIONS: Meridian Capital places $20m mortgage on Jamaica multifamily

Meridian Capital announced the following transactions:

• A new mortgage of $20,000,000 was placed on a multifamily property totaling 68 units located on Wexford Terrace in Jamaica, NY. The loan features a rate of 3.45% and a 10-year term. This transaction was negotiated by David Hayum and Luke Hingson.

• A new mortgage in the amount of $9,500,000 on a 4,350 square foot retail property located on Fifth Avenue in New York, NY. The loan features a rate of 3.50% and a five-year term. Justin Boruchov and Phil Galligan negotiated this transaction.

• A new mortgage of $8,250,000 was placed on a multifamily property totaling 48 units located on Creston Avenue in the 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 $6,400,000 on a 56-unit multifamily property located on Sherman Avenue in New York, NY. The loan features a rate of 3.85% and a five-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.

• A new mortgage of $5,700,000 was placed on a multifamily property totaling 49 units located on West 178th Street in New York, NY. The loan features a rate of 3.65% and a five-year term. This transaction was negotiated by Morris Diamant and David Liechtung.

• A new mortgage in the amount of $4,150,000 on a 26-unit multifamily property located on Bedford Park Boulevard in the Bronx, NY. The loan features a rate of 3.86% and a five-year term. David Bollag negotiated this transaction.

•••

GCP Capital Group arranged mortgage financing in the aggregate amount of $62,200,000 for the following properties:

• $24,550,000 combined financing for a portfolio of 11 multifamily apartment buildings containing a total of 213 units with 2,800 s/f of commercial space, located throughout Manhattan, New York. Paul Greenbaum, Managing Member, arranged the financing for these transactions.

• $22,100,000 for two seven-story multifamily apartment buildings containing a total of 252 units, located on Gerard Avenue in the Bronx, New York. Adam Brostovski, Principal, arranged the financing.

• $10,550,000 construction financing for the development of a six-story residential building which will contain ten state-of-the-art apartments, located in the Cobble Hill section of Brooklyn, New York. Matthew Albano, Managing Director, arranged the financing for this transaction.

• $5,000,000 for a four-building industrial/manufacturing complex comprised of approx. 81,400 square feet, located in Freeport, Nassau County, New York. Matthew Classi, Managing Member, arranged the financing.

•••

Eastern Union Funding announced the following transactions:

• A $23,925,000 first lien mortgage for the refinance of a 486-unit multifamily property in Memphis, TN. This transaction was arranged by Ira Zlotowitz and Michael Muller

• A $20,043,784 first lien mortgage for the acquisition of a 352-unit multifamily property in Spartanburg, SC. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $17,815,000 first lien mortgage for the acquisition of a 192-unit multifamily property in West Palm Beach, FL. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $15,000,000 first lien mortgage for the acquisition of a hotel in Memphis, TN. This transaction was arranged by Michael Wyne and Mordechai Beren.

• A $14,378,000 first lien mortgage for the acquisition of a 207-unit multifamily property in Philadelphia, PA. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $13,000,000 first lien mortgage for the refinance of a mixed-use property in Bronx, NY. This transaction was arranged by Ira Zlotowitz, Abraham Bergman and Michael Muller.

A $11,670,000 first lien mortgage for the acquisition of a 272-unit multifamily property in Tulsa, OK. This transaction was arranged by Meir Kessner and David Eisen.

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