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Deals & Dealmakers

TRANSACTIONS: GCP arranges mortgage financing in the aggregate amount of $53,650,000

Meridian Capital announced the following transactions:

• A new mortgage of $6,700,000 on a multifamily property totaling 68 units located on Thayer Street in New York, NY. The loan features a rate of 3.30% and a five-year term. This transaction was negotiated by Morris Diamant and David Liechtung.

• A $5,900,000 mortgage on a 70-unit multifamily property located on Kingsbridge Avenue in the Bronx, NY. The loan features a rate of 3.50% and a seven-year term. Charles Grussgott and Michael Helmreich negotiated this transaction.

• A new mortgage in the amount of $5,000,000 on an 11,500 s/f office property located on West 36thStreet in New York, NY. The loan features a rate of 3.70% and a seven-year term. David Hayum and Ethan Kalaora negotiated this transaction.

• A new mortgage of $4,650,000 on a multifamily property totaling 30 units located on West 192ndStreet in New York, NY. The loan features a rate of 3.50% and a seven-year term. This transaction was negotiated by Judah Hammer and Jared Kaufman.

• A $3,820,000 mortgage on a 29-unit multifamily property located on East Tremont Avenue in the Bronx, NY. The loan features a rate of 3.37% and a seven-year term. David Bollag and Judah Hammer negotiated this transaction.

•••

GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $53,650,000 for the following properties:

• $24,650,000 for a six-story multifamily apartment building containing 70 units, located on DeKalb Avenue in Brooklyn, New York. Paul Greenbaum arranged the financing.

• $17,000,000 for a three level, newly constructed and state-of-the-art commercial property of approx. 53,300 square feet, located in Garden City, Nassau County. Matthew Classi arranged the financing for this transaction.

• $9,000,000 blanket financing for four commercial/industrial buildings comprised of approx. 177,200 total square feet, located in Hempstead, Islip Terrace, Manhasset and Westbury, New York. Alan Perlmutter and George Spanos arranged the financing for this transaction.

• $3,000,000 for a one-story retail building comprised of 6,600 square feet, located in Bellmore, Nassau County, New York. David Sessa arranged the financing.

•••

Eastern Union Funding announced the following transactions:

• A $21,004,000 first lien mortgage for the refinance of a 100-unit multifamily property in Lakewood, NJ. This transaction was arranged by Moti Amsel.

• A $20,300,000 first lien mortgage for the acquisition of a 223-unit multifamily property in Simpsonville, SC. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $17,500,000 first lien mortgage for the refinance of a 3-unit industrial property in Long Island City, NY. This transaction was arranged by David Eisen.

• A $12,723,660 first lien mortgage for the acquisition of a 36-unit mixed-use property in Washington, DC. This transaction was arranged by Marc Tropp.

• A $5,500,000 first lien mortgage for the refinance of a 55-unit multifamily property in Bronx, NY. This transaction was arranged by Michael Muller.

• A $5,300,000 first lien mortgage for the refinance of a 2-unit industrial property in Brooklyn, NY. This transaction was arranged by Ira Zlotowitz.

• A $4,600,000 first lien mortgage for the refinance of a 224-unit multifamily poperty in Wilmington, NC. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $3,282,000 first lien mortgage for the refinance of a 24-unit multifamily property in Bronx, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $3,200,000 first lien mortgage for the acquisition of a 10-unit shopping center in Takoma Park, MD. This transaction was arranged by Marc Tropp.

• A $2,540,000 first lien mortgage for the refinance of a 17-unit mixed-use property in New York, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $2,535,000 first lien mortgage for the refinance of a 15-unit mixed-use property New York, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $2,225,000 first lien mortgage for the refinance of a 16-unit multifamily property in Bronx, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $1,850,000 first lien mortgage for the refinance of a single tenant property in Wayne, NJ. This transaction was arranged by Marc Tropp and David Merkin.

• A $1,849,000 first lien mortgage for the acquisition of a 24-unit multifamily property in Baltimore, MD. This transaction was arranged by Marc Tropp.

• A $1,500,000 first lien mortgage for the refinance of a 8-unit mixed-use property in Brooklyn, NY. This transaction was arranged by Michael Muller.

• A $1,280,000 first lien mortgage for the refinance of a single unit industrial property in Far Rockaway, NY. This transaction was arranged by Michael Muller.

• A $1,250,000 first lien mortgage for the refinance of a 6-unit multifamily property in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.

•••

Brick Capital Partners LLC, through an affiliate entity, provided the following financing:

• A blanket first mortgage in the amount of $1,300,000 to a private real estate owner. Located in Woodside, Queens, the collateral is comprised of two walk-up apartment buildings that contain a total of 11apartments and one store. The apartments are occupied by both rent regulated and free market tenants. The loan is interest only with a 1-year term. The funds were needed to pay off real estate tax liens as well as to provide capital for renovations. Phil Ragone arranged the financing.

• A $3,600,000 first mortgage for the refinance of a retail property located on Steinway Street in Astoria, Queens. The loan was closed within three weeks of the borrower’s application. Brick has funded multiple loans for this investor over the past three years. The loan was negotiated by Phil Ragone and Eric C. Roth.

• A blanket first mortgage in the amount of $2,250,000 to a private real estate investor. Located in the Midwood and Crown Heights section of Brooklyn, the collateral is comprised of two vacant lots that are slated for residential redevelopment. The loan proceeds are to be utilized to fund the demolition and early stages of construction. Anthony Lekanides and Eric C. Roth arranged the financing.

•••

Avison Young New Jersey arranged a $4 million construction loan for the development of a mixed-use multifamily rental building located at 45 Spring Street in Princeton, New Jersey. George Gnad secured the financing on behalf of the borrower and ownership group for the property, Nelson Spring, LLC. Additionally, Long Lane Partners is serving as the project manager for the development and JZA+D is the architect. The financing will allow Nelson Spring to build Nelson Glass House, a 10,000 s/f, four-story property consisting of three floors of multifamily space atop an existing ground floor commercial structure.

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