Select Commercial Funding announced the below closed transactions. All loan transactions were negotiated by Stephen A. Sobin, president and founder of Select Commercial.
- $2,757,798 loan for the acquisition of a 10,372 square foot retail strip center located in Reynoldsburg, Ohio. The borrower received a 10 year loan with a 25 year amortization.
- $2,400,000 loan for the refinance of a 32-unit garden/low rise apartment building located in Metairie, Louisiana. The borrower received a non-recourse loan with a 10 year fixed rate and a 30 year amortization. The loan-to-value ratio was 80%.
- $1,500,000 loan for the refinance of a 32-unit apartment building located in Dublin, Pennsylvania. The borrower received a non-recourse loan with a 10 year fixed rate, followed by a 10 year adjustable rate, and a 30 year amortization.
- $3,778,000 refinance loan on a package of three apartment properties located in New Orleans, Louisiana. The three apartment buildings contained 19, 17, and 14 units. The borrower received a non-recourse loan with a 10 year fixed rate and a 30 year amortization.
- $2,812,000 loan for the refinance of a 107 unit low rise/garden apartment complex located on a 5.80-acre site in Duluth, Minnesota. The borrower received a non-recourse loan with a 10 year fixed rate and a 30 year amortization.
- $980,000 loan for the acquisition of a one-story, single-tenant, 16,527 square foot industrial/warehouse building in Elk Grove Village, Illinois. The borrower received a 7 year fixed rate loan with a 20 year amortization. The loan to value ratio was 80%.
- $1,312,000 loan for the acquisition of a marina/restaurant located in Greenwood Lake, New York. The multi-use property contains motel rooms, lakefront restaurant and bar, and boat rental dock.
- $750,000 loan for the acquisition of a newly constructed 9,026 square foot retail building on 1.44 acres in Opelika, Alabama. The property is leased to Dollar General.
- $1,000,000 loan for the refinance of a 4400 square foot office building in Southampton, New York. The property houses the borrower’s business and six other retail/office tenants. The borrower received a 10 year fixed rate loan with a 25 year amortization.
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Arbor Realty Trust funded 55 loans totaling $156.7M in New York, Ohio and Illinois. These properties received $151.3M in total funding through the Freddie Mac SBL product, making this the largest portfolio since the inception of the program. Ari Short of Arbor’s New York City office originated the loans.
- 401 E. 136th St., Bronx, NY: This nine-unit multifamily property received $1.8M in refinance funding through the Freddie Mac SBL program. The deal provides a five-year hybrid term and a 30-year amortization schedule.
- Village On Courtright Apartments, Columbus, OH: This 24-unit multifamily property received $762,000 in acquisition funding through the Fannie Mae DUS® Small Loan program. The deal provides a 12-year fixed rate term with a one-year interest only period, followed by 30-year amortization schedule.
- Pine Hill Townhomes, Columbus, OH: This 32-unit multifamily property received $1M in acquisition funding through the Freddie Mac SBL program. The deal provides a 10-year hybrid term with a three-year interest only period, followed by a 30-year amortization schedule.
- 1616 E. 75th St., Chicago, IL: This eight-unit multifamily property received $1.7M in refinance funding through the Fannie Mae DUS® Small Loan program. The deal provides a 15-year fixed rate term and 30-year amortization schedule.
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Eastern Union Funding announced the following transactions:
- A $6,600,000 first lien mortgage for the refinance of a 16-unit multifamily on Vanderbilt Ave in Brooklyn, NY. This transaction was arranged by Abraham Bergman and Yossi Orzel.
- A $3,000,000 first lien mortgage for the refinance of a multifamily on Menahan St in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
- A $2,945,000 first lien mortgage for the acquisition of a 54-unit multifamily on E Church Ln in Philadelphia, PA. This transaction was arranged by David Metzger.
- A $2,906,000 first lien mortgage for the refinance of a 10-unit multifamily on Park Pl in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
- A $2,500,000 first lien mortgage for the acquisition of a 63-unit multifamily on Pine St in Philadelphia, PA. This transaction was arranged by Meir Kessner.
- A $2,338,000 first lien mortgage for the acquisition of a 33-unit multifamily on Emory Cove in Knoxville, TN. This transaction was arranged by Joshua Ramras and Marc Belsky.
- A $1,500,000 first lien mortgage for the refinance of a 3-unit mixed-use on 3rd Ave in New York, NY. This transaction was arranged by Ira Zlotowitz and Joe Saul.
- A $1,170,000 first lien mortgage for the refinance of a 2-unit shopping center on Spencer St in Manchester, CT. This transaction was arranged by Moshe Lipschitz.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $23,590,000 for the following properties:
- $11,000,000 for four multifamily apartment buildings containing a total of 140 units, located on West 191st Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $6,400,000 for a three-story office building comprised of approximately 49,300 square feet, located in Commack, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $3,490,000 for a five-story multifamily apartment building containing 35 units, located on Webb Avenue in the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
- $2,700,000 for a two-story industrial flex building comprised of approximately 12,400 gross square feet, located on 56th Street in Queens, New York. Steven Goldstein, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Marcus & Millichap Capital Cooperation announced the following transactions:
- A $4,200,000 refinance was arranged for a 7,375 SF mixed-use property in the Lenox Hill neighborhood of Manhattan. The financing was arranged by Andrew Dansker and Andy Weiss.
- A $3,000,000 refinance was arranged for a multi-story retail building in the Gramercy Park neighborhood of Manhattan. The financing was arranged by Andrew Dansker.
- A $2,800,000 refinance was arranged for a 11,160 SF mixed-use property located in the Woodlawn Heights neighborhood of the Bronx. The financing was arranged by Andrew Dansker.
- A $1,820,000 acquisition loan was arranged for a 33.465 SF mixed-use office building in Deland, Florida. The financing was arranged by Andrew Dansker.
- A $900,000 refinance was arranged for a 16-unit multifamily property located in Union City, New Jersey. The financing was arranged by Andrew Marcus and Andrew Dansker.
- A $750,000 acquisition loan was arranged for a 6-unit multi-family property in the Hunts Point neighborhood of the Bronx. The financing was arranged by Andrew Marcus and Andrew Dansker.
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Meridian Capital announced the following transactions:
- A new mortgage of $10,700,000 was placed by Meridian on a multifamily property totaling 21 units located on East 81st Street in New York, NY. The loan features a rate of 4.50% and a five-year term. This transaction was negotiated by Chaim Tessler.
- A new mortgage in the amount of $10,400,000 on a 49-unit multifamily property located on Fort Washington Avenue in New York, NY. The loan features a rate of 4.20% and a seven-year term. Allan Lieberman and Asher Haft negotiated this transaction.
- A new mortgage of $8,000,000 was placed by Meridian on a mixed-use property totaling 10 units located on Park Avenue in New York, NY.The loan features a rate of 4.50% and a five-year term. This transaction was negotiated by Chaim Tessler.
- A new mortgage in the amount of $4,000,000 on a 10-unit multifamily property located on New York Avenue in Huntington, NY. The loan features a rate of 4.5% and a seven-year term. Bryan Kallenberg and Meir Schlusselberg negotiated this transaction.
- A new mortgage of $3,600,000 was placed by Meridian on a multifamily property totaling 42 units located on Featherbed Lane in the Bronx, NY. The loan features a rate of 4.52% and a five-year term. This transaction was negotiated by David Hayum and Ethan Kalaora.
- A new mortgage in the amount of $1,000,000 on a 48-unit multifamily property located on Bush Street in the Bronx, NY. The loan features a rate of 4.51% and a 36-month term. Judah Hammer and Daniel Neiss negotiated this transaction.
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Mission Capital Advisors announced that it has arranged a $7.3 million non-recourse land loan for the acquisition of 5656 San Felipe Street, a 1.26-acre development site in Houston. The borrower, Houston-based Pelican Builders, is working to finalize plans for an as-of-right, 17-story condominium project, which will include 67 luxury residences and 191 parking spaces. The Mission Capital team of Jason Parker, Steven Buchwald and Alex Draganiuk arranged the financing. The 322,708 s/f property calls for 67 residences with on-site amenities that include a pool deck, resident lounge, state-of-the-art fitness center and a dog park. The project is expected to break ground in October 2019.
