Category : Banking and Finance

TRANSACTIONS: Emerald Creek Capital places $13,200,000 bridge loan in Prospect Lefferts Gardens
Banking and FinanceDeals & Dealmakers

TRANSACTIONS: Emerald Creek Capital places $13,200,000 bridge loan in Prospect Lefferts Gardens

REW
by REW3924
Meridian Capital announced the following transactions: • A new mortgage of $9,100,000 was placed by Meridian on a multifamily property totaling 66 units located on Lefferts Avenue in Brooklyn, NY. The loan features a rate of 3.50% and a five-year term. This transaction was negotiated by Mark Brachfeld and Akiva Rosenberg. • A new...
Banking and Finance

Hunt funds $192M RAD loan for NYCHA buy

REW
by REW2690
Hunt Real Estate Capital, a lender focused on affordable housing, provided over $192 million to finance the purchase and renovation of over 1,300 units of housing in Bushwick. The currently NYCHA-owned apartments are spread across seven existing public housing properties that will undergo conversion through the RAD and Section 18...
Greystone provides $115 million for 500 units of senior housing
Banking and Finance

Greystone provides $115 million for 500 units of senior housing

REW
by REW1289
Greystone, a commercial real estate lending, investment, and advisory company, has provided a total of $115 million in Freddie Mac and Fannie Mae Shariah-compliant financing for the acquisition of a six-asset seniors housing portfolio. Cary Tremper of Greystone originated the financing on behalf of Madison Marquette; GFH Capital, a subsidiary...
Banking and Finance

Philadelphia luxury loft building gets $27.5 million in re-financing

REW
by REW1734
Cushman & Wakefield served as the exclusive advisor to Ivy Realty and DW Partners in the procurement of $27.5 million in refinancing for a residential property with retail totaling approximately 82,556 buildable s/f at 1600 Callowhill Street in Philadelphia, Pennsylvania. A Cushman & Wakefield Equity, Debt & Structured Finance team...
Over 1.5 million single-family homes and condos are vacant, report finds
Banking and Finance

Over 1.5 million single-family homes and condos are vacant, report finds

REW
by REW1500
ATTOM Data Solutions, has released its Q3 2019 Vacant Property and Zombie Foreclosure Report showing there are over 1.5 million (1,530,563) U.S. single-family homes and condos vacant in the third quarter of 2019, representing 1.6 percent of all homes.  The report analyzes publicly recorded real estate data collected by ATTOM...
Banking and Finance

JLL secures financing for 220-unit multifamily development in NJ

REW
by REW1312
JLL announces that it has arranged an undisclosed amount of financing for the development of Englewood Circle, a 220-unit, Class A multifamily property in Englewood, New Jersey.  JLL worked on behalf of the developers, a joint venture between The Claremont Companies and Cypress Equity Investments, to secure the five-year construction...
Freddie Mac: Despite fears of recession, mortgage demand remains high
Banking and Finance

Freddie Mac: Despite fears of recession, mortgage demand remains high

REW
by REW1546
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, unchanged from last week. Sam Khater, Freddie Mac’s chief economist, says, “The sound and fury of the financial markets continue to warn of an impending recession, however,...
Fannie Mae reducing portfolio, now selling re-performing loans
Banking and Finance

Fannie Mae reducing portfolio, now selling re-performing loans

REW
by REW2693
Fannie Mae on Tuesday has begun marketing its thirteenth sale of re-performing loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 29,600 loans, having an unpaid principal balance of approximately $5.1 billion, and is available for purchase...
$4.2 million infusion for Rivet, a 163-unit building near NJCU
Banking and Finance

$4.2 million infusion for Rivet, a 163-unit building near NJCU

REW
by REW1365
JLL has arranged $42.5 million in financing for RIVET, a mixed-use multi-housing and retail property located in Jersey City’s University Place. JLL advised the borrower, a joint venture between The Hampshire Companies, Claremont Companies and Circle Squared Alternative Investments, on the refinancing of the existing construction financing that was previously...
FCP invests in Suffolk County development with 80 townhomes
Banking and Finance

FCP invests in Suffolk County development with 80 townhomes

REW
by REW1875
FCP has announced that it recently closed on a preferred equity investment to facilitate the acquisition of The Preserve, a Class-A, 80-unit multifamily community in Suffolk County, Long Island. The sponsor, Fairfield Properties, made a significant initial investment in acquiring the property and will be making a major future capital investment to...