Ariel Property Advisors has arranged $13.1 million in financing across four properties in three states—New York, South Carolina and Mississippi.
The recent financings include:
● A seven-year $4.87 million acquisition loan for a 47,541-square-foot NNN leased Regal Movie Theater in Rock Hill, SC, located near major thoroughfares and in close proximity to downtown Charlotte, NC. The loan featured an interest rate of 4.5 percent on a 25-year amortization. The financing was secured by an Ariel team that included Eli Weisblum, Senior Director, Capital Services, and Paul McCormick, Partner, Sales Management.
● A $3.77 million cash-out refinance for a rent regulated multifamily property in Brooklyn, NY. The building is comprised of 20 residential units across 15,200 square feet and is located near subway and bus transportation, educational institutions and green spaces including Prospect Park. The financing was secured by an Ariel team that included Matthew Dzbanek and Matthew Swerdlow, both Senior Directors in Capital Services.
● A $2.3 million acquisition and renovation loan for a Mt. Vernon, NY, multifamily property comprised of 13 units. The 24-month, non-recourse, interest-only loan featured an LTC of 85 percent and 35-day closing. The property is in a growing submarket north of Manhattan, providing access to Van Cortlandt Park, the New York Botanical Garden and Pelham Bay Park. The financing was secured by an Ariel team that included Matthew Swerdlow and Matthew Dzbanek, both Senior Directors in Capital Services.
● A $2.175 million acquisition loan for a 27,350-square-foot office property in Pascagoula, MS. The loan featured an interest rate of 4.5 percent for 5+5 years on a 25-year amortization with an LTV of 75 percent. Chevron Oil anchors the property as the main tenant, occupying 80 percent of the space. The financing was secured by an Ariel team that included Eli Weisblum, Senior Director, Capital Services, and Paul McCormick, Partner, Sales Management.
