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Debt & Equity

TRANSACTIONS: Eastern Union busy in El Dorado

Eastern Union Funding has arranged the following transactions:
A $5,950,000 first lien mortgage for the refinance of a 152-unit multifamily in El Dorado, AR. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
A $2,550,000 first lien mortgage for the refinance of a 7-unit mixed-use on in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
A $3,330,000 first lien mortgage for the refinance of a 2-unit mixed-use in Hackettstown, NJ. This transaction was arranged by Abe Kolman.
A $1,200,000 first lien mortgage for the refinance of a 6-unit multifamily in Jersey City, NJ. This transaction was arranged by Jay Tyberg.
A $13,695,000 first lien mortgage for the acquisition of an 88-unit multifamily in Columbia, SC. This transaction was arranged by Jeffrey Seidenfeld.
A $3,000,000 first lien mortgage for the refinance of an 8-unit multifamily in Brooklyn, NY. This transaction was arranged by David Metzger, Moshe Feiner, Bernie Fried, and Simcha Greenwald.
A $1,500,000 first lien mortgage for the refinance of a 2-unit mixed-use in Brooklyn, NY. This transaction was arranged by Eli Schwartz and Abraham Bergman.
A $1,840,000 first lien mortgage for the acquisition of a 48-unit multifamily in Upper Darby, PA. This transaction was arranged by Jeffrey Seidenfeld.
A $22,200,000 first lien mortgage for the refinance of a 46-unit multifamily in Bronx, NY. This transaction was arranged by David Eisen.
A $700,000 first lien mortgage for the refinance of a 5-unit mixed-use on 383910 in North Bergen, NJ. This transaction was arranged by Ben Schwartz.
• A $43,725,000 first lien mortgage for the acquisition of a 396-unit multifamily in Roswell, GA. This transaction was arranged by Michael Muller.
• A $24,800,000 first lien mortgage for the refinance of a 6-unit mixed-use property in Brooklyn, NY. This transaction was arranged by David Eisen.
• A $3,000,000 first lien mortgage for the refinance of a 196-unit multifamily in Columbus, OH. This transaction was arranged by CJ Danziger.
• A $4,900,000 first lien mortgage for the acquisition of a 1-unit healthcare in Bronx, NY. This transaction was arranged by David Eisen.
• A $2,195,000 first lien mortgage for the acquisition of a 2-unit mixed-use in Brooklyn, NY. This transaction was arranged by David Metzger, Moshe Feiner, and Bernie Fried.

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GCP Capital Group has arranged mortgage financing in the aggregate amount of $34,725,000 for the following properties:
• $17,100,000 combined financing for a portfolio of nine five-story multifamily apartment buildings containing a total of 242 units, located throughout the Bronx, New York. Adam Brostovski arranged the financing for these transactions.
• $13,200,000 for two contiguous five-story multifamily apartment buildings containing a total of 24 units and 6,300 square feet of commercial space, located on Amsterdam Avenue in Manhattan. Paul Greenbaum arranged the financing for this transaction.
• $3,175,000 for a six-story multifamily apartment building containing 29 units, located on Willoughby Avenue in Brooklyn. Michael Charnowitz, arranged the financing.
• $1,250,000 for a three-story multifamily apartment building containing 6 units, located on Hancock Street in Brooklyn. Matthew Albano arranged the financing .

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Merdian Capital has arranged the following mortages:
• A new mortgage of $6,000,000 on a multifamily property totaling 46 units located on West Tremont Avenue in the Bronx, NY. The loan features a rate of 3.30 percent and a five-year term. This transaction was negotiated by Judah Hammer and Jared Kaufman.
• A new mortgage in the amount of $5,500,000 on a 42-unit multifamily property located on East 19th Street in Brooklyn, NY. The loan features a rate of 3.50 percent and a five-year term. Chaim Tessler and Asher Urbach negotiated this transaction.
• A new mortgage of $3,100,000 was placed by Meridian on a cooperative property totaling 124 units located on East 18th Street in New York, NY. The loan features a rate of 3.43 percent and a 10-year term. This transaction was negotiated by Steve Geller and Avi Geller.
• A new mortgage in the amount of $2,600,000 on a 52-unit cooperative property located on Vyse Avenue in the Bronx, NY. The loan features a rate of 3.55 percent and a five-year term. Scott Assouline and Jacob Nefoussi negotiated this transaction.
• A new mortgage of $1,650,000 was placed by Meridian on a multifamily property totaling eight units located on Arthur Avenue in the Bronx, NY. The loan features a rate of 3.75 percent and a seven-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
• A new mortgage in the amount of $1,115,000 on a 10-unit multifamily property located on 45 Street in Long Island City, NY. The loan features a rate of 3.63 percent and a five-year term. Sam Shifer and Israel Leiner negotiated this transaction.

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W Financial has provided the following bridge loans which were handled by Jarret Schochet, David Heiden, Andrew Singer and TJ Randall:
• A $1,000,000 bridge loan for the acquisition of a medical office building located on Dermody Street in Cranford, New Jersey. The borrower needed to close the loan quickly, and then plans to refinance the W Financial loan with permanent financing once his business has moved in and is fully operational.
• A $7,500,000 bridge loan collateralized by a 233- unit, two-story, garden-style apartment rental community located in Greensboro, North Carolina. The timing of the closing was critical in order to take advantage of a time-sensitive 1031 tax-free exchange deadline. W Financial was called in and was able to close the loan within three days preserving the 1031 tax-free exchange. The borrower expects to repay the W Financial loan with conventional agency financing.
• A $1,750,000 bridge loan secured by a vacant office building located on Washington Street in Newark, New Jersey. The borrower had a time-of the-essence closing and needed to close the loan expeditiously. The borrower expects to repay the W Financial loan with a construction loan once the borrower has their building plans approved.

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