Rockaway hotel venture tops up its reserves
Development team behind a new Rockaway hotel venture has secured a $32.5 million construction loan.
Category : Debt & Equity
Seaside builder bags $10M for pier project
New Jersey-based commercial real estate lender, Procida Funding, provided a $10 million construction loan to developers helping revitalize a Jersey Shore community. On behalf of the 100 Mile Fund, which Procida exclusively manages, Procida funded the loan to The Mabie Group to finance the reconstruction of the Belle-Freeman Amusement Pier...
Borrower exits bridge loan with $71M from Greystone
Greystone has provided a $71.3 million HUD-insured loan to refinance Massapequa Center Rehabilitation & Nursing, a 320-bed skilled nursing facility in Long Island, New York. The transaction was originated by Fred Levine of Greystone. The $71,280,000 permanent FHA financing carries a 30-year term and 30-year amortization along with a low,...
Morgan Stanley funds $50M loan to Bronx landlord
Black Bear Capital Partners (BBCP), a real estate financial advisory firm and subsidiary of Black Bear Asset Management, has arranged $50.4 million in permanent financing on behalf of Finkelstein Timberger East Real Estate for the refinance of a five-property multifamily portfolio in the Bronx, NY. The $50.4 million loan, provided...
CUR antes up $30M for the Roger Smith Hotel
CUR Capital LLC, the lending arm of New York City based City Urban Realty, through an affiliate entity, has provided a $30 million loan collateralized by The Roger Smith Hotel in Midtown Manhattan. The 17-story 93,000 s/f hotel, located at 501 Lexington Avenue at the corner of East 47th Street,...
CPC and L+M close on $33M refinancing deal
The Community Preservation Corporation (CPC) and L+M Development Partners announced the closing of three Fannie Mae Multifamily Affordable Housing (MAH) loans totaling $33.2 million to finance the long-term preservation of three affordable housing developments in the Hudson Valley. CPC’s MAH loans provides L+M with a product tailored to the complexities...
Trinity eyes multifamily sector with $70M investment purse
Trinity Place Holdings announced a strategic investment by a global institutional investment management firm through a $70 million multiple draw secured term loan facility, subject to increase to $95 million in certain circumstances with the consent of the lender. The Company expects to use the net proceeds from the loan...
Fairstead to rehab 900 affordable homes with $310M in HUD loans
Fairstead, a real estate firm committed to the preservation of high quality housing, announced the financing of a 905-unit portfolio of subsidized housing across nine properties (49 buildings) in New York City. Over the last six months, in nine distinct transactions, Fairstead restructured the $430 million portfolio with $310 million...
LIC lab venture secures $156M construction loan
ACORE Capital funded the loan in a deal brokered by JLL for King Street Properties, GFP Real Estate and funds managed by The Carlyle Group
Midtown South office building gets $20M refi
JLL Capital Markets has arranged a $20 million refinancing for 16 West 36th Street, a 13-story, 67,271-a/f office building with street level retail in Midtown South. The group worked on behalf of owners Windsor Management Corporation to secure the 10-year, fixed-rate refinancing through a life insurance company. 16 West 36th...