Category : Debt & Equity

Debt & EquityHotels

MCR closes $300M hospitality fund

REW
by REW2950
MCR, the seventh largest hotel owner-operator in the United States, has closed a $300 million fund that should give it $1 billion in purchasing capacity. The MCR Hospitality Fund LP targets investments in institutional-quality Marriott and Hilton select service and extended stay hotels throughout the country. “This important milestone reflects...
Jersey City condo secures $26M construction loan
Construction & DesignDebt & Equity

Jersey City condo secures $26M construction loan

REW
by REW1632
Brad Domenico, partner at Progress Capital, negotiated a $26,250,000 construction to permanent loan secured by two parcels of land for construction of a new nine-story mixed-use, residential and retail building on Summit Avenue in Jersey City. At present, one parcel of land is vacant, while the second is occupied by...
Pembrook Capital closes $32M deal for Upper East Side mansion
Debt & Equity

Pembrook Capital closes $32M deal for Upper East Side mansion

REW
by REW1503
Pembrook Capital Management has closed a $32,750,000 first mortgage loan to finance a condominium project developed within a restored Beaux Arts mansion in the Upper East Side neighborhood of Manhattan. Park Mansion, located at 320 East 82nd Street, offers six full-floor luxury units with abundant outdoor space, currently available for...
Debt & Equity

GFP, Northwind refinance 40 Exchange Place with $100M loan

REW
by REW1390
GFP Real Estate and Northwind Group announced the closing of $100 million in refinancing for 40 Exchange Place. The 20-story, 300,000 s/f office and retail building is located in the Financial District, steps from the New York Stock Exchange, the Fulton Street transportation hub and the World Trade Center complex....
Progress Capital packages up $36M in loans for self-storage investors
Debt & Equity

Progress Capital packages up $36M in loans for self-storage investors

REW
by REW1164
Progress Capital has arranged $36 million in loans for two Storage Fox self-storage locations. Kathy Anderson, managing partner at Progress Capital, working with Signature Bank, negotiated the amount and terms of both loan packages. The two $18,000,000 loans for Dino Tomassetti, managing partner of Storage Fox, will refinance the existing...
Houlihan-Parnes secures $30M office financing
Debt & Equity

Houlihan-Parnes secures $30M office financing

REW
by REW1205
Houlihan-Parnes Realtors has arranged $30 million in mortgage financing for 660 White Plains Road, Tarrytown, NY. The 296,780 s/f Class A office building was purchased in early 2017 by members of GHP Office Realty, Houlihan-Parnes Realtors, and RD Management. Since acquiring the property, the owners have invested millions in capital...
State carves New York into investment opportunity zones
Deals & DealmakersDebt & Equity

State carves New York into investment opportunity zones

REW
by REW5388
From Far Rockaway, Queens to Coop City in the Bronx, more than 300 economically vulnerable New York City communities have been chosen to be tax havens for wealthy investors. Last week, the Empire State Development Corporation nominated 514 census tracts throughout the state for the federal Opportunity Zones program. A...
Heskel retail checks all the boxes for lender
Debt & Equity

Heskel retail checks all the boxes for lender

REW
by REW1740
Meridian Capital Group negotiated $22 million in financing for the refinance of two retail properties in New York City and Forest Hills, on behalf of Heskel Elias of The Heskel Group. The 10-year loan, provided by a balance sheet lender, features a rate of 4.00 percent and was negotiated by...
Queens co-op sees $24M refinancing
Debt & Equity

Queens co-op sees $24M refinancing

REW
by REW1327
Warshaw Burstein represented Queens co-op board Dara Owners Corp., in a $24 million refinancing. Community Bank is the lender on the refinancing. Harvey Krasner, chair of the firm’s real estate practice, was the lead attorney. The 535-unit co-op is located in the Kew Gardens section of Queens. The deal is...
State invites investors to get a taste of secret sauce Greystone is serving up in Georgia
Debt & Equity

State invites investors to get a taste of secret sauce Greystone is serving up in Georgia

REW
by REW1140
Greystone Affordable Development has closed a $168.6 million multifamily housing transaction in Georgia, marking the third collaboration with Atlanta, GA-based The Hallmark Companies. Hallmark owns and manages some 11,000 affordable housing rentals in the U.S. The portfolio of affordable housing properties included 26 aged USDA Rural Development Section 515 properties...