Category : Debt & Equity

Meridian arranges loan for Fordham assemblage
Banking and FinanceDebt & Equity

Meridian arranges loan for Fordham assemblage

REW
by REW3793
Meridian Capital Group arranged $18.85 million in acquisition financing for the CSX site within the Fordham Landing assemblage in the Bronx. The 12-month bridge loan was negotiated on behalf of Gary Segal of Dynamic Star by Meridian senior managing director Ronnie Levine, Thomas Wayda, Shamir Seidman and Shlomo Weissberg, who...
125 Greenwich loan trades for $230M
Banking and FinanceDebt & Equity

125 Greenwich loan trades for $230M

REW
by REW5812
BH3 has completed the $230 million sale of its non-performing senior mortgage position on 125 Greenwich Street in the Financial District. The buyer was Fortress Investment Group LLC. BH3, a New York City-based investment management and development firm, originally paid $195 million for the loan in July 2019 in a...
Investors continue to court US real estate assets
Banking and FinanceDebt & Equity

Investors continue to court US real estate assets

REW
by REW3306
Strong demand from both domestic and foreign investors, combined with moderate economic growth, is expected to keep capitalization rates for U.S. commercial real estate assets broadly stable in 2020, according to the latest research from global property advisor, CBRE. The CBRE North America Cap Rate Survey found that industrial, multifamily,...
Debt & Equity

Investor secures $17M for Clinton Hill rental renovation

REW
by REW2386
The FREO Group has secured a $17.4 million loan to finance its acquisition and renovation of 79 Clifton Place in Brooklyn’s Clinton Hill neighborhood. The six-story on-time knitting factory was converted to housing in 2000. FREO Group plans to upgrade the 52,375 s/f 40-unit property as it continues to expand...
PAG bags $31M for Jersey office acquisition
Debt & Equity

PAG bags $31M for Jersey office acquisition

REW
by REW1774
JLL Capital Markets arranged $31.12 million in financing for 5 Wood Hollow Road, a 330,631 s/f office building in Parsippany, New Jersey. JLL worked on behalf of the borrower, PAG Investments, to secure the three-year, floating-rate loan with Prime Finance. The bridge loan has two one-year extension options and proceeds...
TD Bank pumps $35M into Yonkers campus being built for underserved New Yorkers
Debt & Equity

TD Bank pumps $35M into Yonkers campus being built for underserved New Yorkers

REW
by REW4636
TD Bank closed on $35.3 in financing for Westhab to fund the construction of the Dayspring Commons Campus in Yonkers, New York. The apartment building and community center will address the urgent issue of homelessness and affordable housing. The Bank’s Commercial Real Estate business provided a $19.5 million letter of...
HREV starting to make its Opportunity Fund money work
Debt & Equity

HREV starting to make its Opportunity Fund money work

REW
by REW3512
Halpern Real Estate Ventures (HREV), a real estate investment platform focused on value creation in urban centers, announced the close of its inaugural Opportunity Zone Platform after achieving its target of $50 million in General Partner capital in nine months. HREV reached its $50 million Platform threshold, which will support...
Greystone antes up $105M to protect 500 low income apartments
Deals & DealmakersDebt & Equity

Greystone antes up $105M to protect 500 low income apartments

REW
by REW2065
Greystone has provided $105 million in HUD-insured financing to preserve over 480 units of affordable housing in New York City. The lender provided a $54,965,400 HUD-insured loan to refinance 31-41 23rd Street in Astoria, Queens, a 241-unit property spanning nearly 200,000 s/f. Built in 1979, the Catherine Sheridan Senior Apartments...
TRANSACTIONS: GCP arranges $44 million in financing
Debt & Equity

TRANSACTIONS: GCP arranges $44 million in financing

REW
by REW3340
GCP Capital Group LLC has arranged mortgage financing on $44 million. •  $20,300,000 for a five-story mixed-use building containing 60 apartments and 4,550 square feet of commercial space, located on Avenue A in Manhattan, New York.  Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction. ...