Avison Young arranged a $20 million term loan to refinance a new multi-family building in Hudson County , NJ.
Jeffrey L. Heller, principal and Managing director of the company’s New Jersey office, said the Capital Markets Group arranged a five-year term loan to refinance an existing construction loan and provide cash-out equity.
The Avison Young New Jersey Capital Markets Group comprised of George Gnad, Principal, Jonathan Kristofich, Vice President, and Michael Winters, Senior Associate, brokered the loan for the Sponsor.
“Our Capital Markets team is adept at analyzing situations and securing financial structures that make sense for the borrower,” said George Gnad with Avison Young.
“In this case, we were tasked with finding a lender who would refinance an existing construction loan on a new property while providing cash-out; in today’s tighter lending environment, securing that kind of financing can be a challenge.
“The team was able to lean on their experience in Hudson County and numerous lender relationships to secure a loan with favorable terms that addressed all the borrower’s needs.”