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Debt & Equity

Black Bear brokers $70M to refiʼ Bronx buildings

Black Bear Capital Partners (BBCP) has arranged $53.9 million in permanent financing on behalf of Finkelstein Timberger East Real Estate (FTERE) for the refinance of a six-property multifamily portfolio in the Bronx, NY.

The loan, provided by Morgan Stanley, featured a fixed rate of 3.58 percent and ten years of full-term, interest-only payments.

The six multi-family properties, which include 386 total units (382 residential units, four commercial units) are located at: 75 West 190th Street; 610 Trinity Avenue; 1791 Walton Avenue; 2770-80 Kingsbridge Terrace; 3031 Holland Avenue; and 3041 Holland Avenue.

BBCP also arranged $15.5 million in permanent financing on behalf of The Morgan Group for the refinance of a two-property portfolio in the Bronx.

Also provided by Morgan Stanley, the loan featured a fixed rate of 3.55 percent and ten years of full-term, interest-only payments.

The two multi-family properties, which include 118 residential units, are in the Wakefield and Mt. Hope neighborhoods.

Bryan Manz, Rob Serra, Phil Bowman, Emil DePasquale, and Brandon Harris of Black Bear Capital Partners (BBCP) arranged the financing packages.

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