Category : Banking and Finance

Banking and FinanceDebt & Equity

New York rent laws driving multifamily interest to Jersey

REW
by REW1655
Arbor Realty Trust, a multifamily and commercial mortgage lender, recently funded a portfolio of Freddie Mac SBL loans throughout Northern New Jersey. The five properties, totaling 93 units, received $12.7 million in refinance cash-out funding through the program. The loans are 10-year hybrids, featuring 10-year fixed followed by 10-year floating-rates...
Slate finance arm antes up $44M for Arden Group venture
Banking and FinanceDebt & Equity

Slate finance arm antes up $44M for Arden Group venture

REW
by REW1753
Arden Group has secured a $44 million floating-rate loan for the acquisition of 4650 Broadway, a development site in Inwood. Newmark Knight Frank Vice Chairmen and Co-Heads of Debt & Structured Finance Dustin Stolly and Jordan Roeschlaub, worked with Arden Group, along with Nick Scribani, Chris Kramer, Seth Hall and...
Cove lands over $700M loan for Hudson Commons
Banking and FinanceDebt & EquityFinance

Cove lands over $700M loan for Hudson Commons

REW
by REW3369
Cove Property Group has closed on $724.2 million financing for Hudson Commons, its trophy Hudson yards office development. Eastdil Secured and Cole Schotz P.C. represented the developer in securing the loans from affiliates of Blackstone Mortgage Trust. Cove, in partnership with The Baupost Group, purchased the property from Emblem Health...
$24M for Samaritans
Banking and FinanceDebt & EquityFinanceFunds and Finance

$24M for Samaritans

REW
by REW2770
Manatus Development Group has secured $24 million from TD Bank to finance construction of a mixed-use office building at 362 East 148th Street that will be the new flagship location of non-profit, Samaritan Daytop Village. The two-year loan includes a six month extension option and carries a rate of 4.5...
Karp collects $34M to close out previous debt
Banking and FinanceDebt & EquityFinanceFunds and Finance

Karp collects $34M to close out previous debt

REW
by REW2630
Greystone provided a $34,500,000 bridge loan to refinance Lenox Apartments, a 55-unit mixed-use property in Brooklyn, New York. The transaction was originated by Anthony Cristi, managing director & Hope Curtis, Originator in Greystone’s New York office, with Steven Vegh of Westwood Realty Associates acting as correspondent on behalf of the...
Freddie protects $69B in mortgages
Banking and FinanceDeals & Dealmakers

Freddie protects $69B in mortgages

REW
by REW1430
Freddie Mac’s Single-Family business announced that its Credit Risk Transfer (CRT) program transferred approximately $2.5 billion of credit risk on $69 billion of single-family mortgages from U.S. taxpayers to the private sector in the third quarter of 2019. It brings the year-to-date total of credit risk transferred to $7.3 billion...
TRANSACTIONS: GCP places mortgages in the aggregate amount of $32,650,000
Banking and FinanceDebt & Equity

TRANSACTIONS: GCP places mortgages in the aggregate amount of $32,650,000

REW
by REW2561
Emerald Creek Capital announced the following transactions: • An $8,000,000 bridge loan in the city of Miramar, FL in Broward County. The loan is secured by a recently constructed five-story office building with 15 office spaces of varying sizes, anchored by a GSA tenant. Financing was originated by ECC Managing Director Mike...
Mortgage Bankers predict purchase originations will rise to $1.29T
Banking and Finance

Mortgage Bankers predict purchase originations will rise to $1.29T

REW
by REW1640
The Mortgage Bankers Association (MBA) announced at its 2019 Annual Convention and Expo in Austin, Texas, that purchase originations are expected to increase 1.6 percent to $1.29 trillion in 2020. After a surge in activity in 2019, MBA anticipates refinance originations will slow next year, decreasing by 24.5 percent to...
Banking and FinanceDeals & Dealmakers

JLL arranges $181M for Taconic, Nuveen redevelopment

REW
by REW2128
JLL Capital Markets experts arranged a $181 million loan to finance the redevelopment of West End Campus, a portfolio of two buildings totaling 484,774 s/f and a parcel of land containing 105,575 s/f of development rights. JLL worked on behalf of Taconic Investment Partners LLC and Nuveen Real Estate to...
Multifamily owner locks in low fixed rate terms
Banking and FinanceDeals & Dealmakers

Multifamily owner locks in low fixed rate terms

REW
by REW1238
Arbor Realty Trust, a multifamily and commercial mortgage lender, recently funded five refinance cash-out loans totaling $68.6 million under the Fannie Mae Streamlined Early Rate Lock product line for conventional multifamily housing. The loans provide 12-year fixed terms with six years of interest only. Vincent Chiodo of Arbor’s New York...