TRANSACTIONS: Eastern Union Funding arranges $50M medical mortgage; GCP secures $40M for Brownsville building

Meridian Capital announced the following transactions:

• A new mortgage in the amount of $7,500,000 on a 96-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features an initial rate of 3.375 percent and a five-year term. Charles Grussgott and Michael Helmreich negotiated this transaction.
• A new mortgage of $6,300,000 was placed by Meridian on a 71-unit multifamily property located on East 176th Street in the Bronx, NY. The loan features an initial rate of 3.375 percent and a five-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer.
• Meridian negotiated a new mortgage in the amount of $4,000,000 on a 65-unit multifamily property located on Broadway in Brooklyn, NY. The loan features an initial rate of 3.25 percent and a five-year term. Charles Grussgott and Michael Helmreich negotiated this transaction.
• A new mortgage of $3,500,000 was placed by Meridian on two multifamily properties with 22 units located on Seventh Avenue in New York, NY. The loan features an initial rate of 3.375 percent and a five-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.
• Meridian negotiated a new mortgage in the amount of $2,000,000 on a 29-unit multifamily property located on East 211th Street in the Bronx, NY. The loan features an initial rate of 3.25 percent and a five-year term. Michael Kesselman and Kerry Brick negotiated this transaction.
• A new mortgage of $1,500,000 was placed by Meridian on a 16-unit multifamily property located on Prospect Avenue in the Bronx, NY. The loan features an initial rate of 3.375 percent and a five-year term. This transaction was negotiated by Steven Ribiat and Morris Diamant.

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Knighthead Funding is pleased to announce the following closed loan transactions:

•$31,000,000 Durham, NC – 1st mortgage refinance secured by a 181,187 SF 12-story office building.
•$14,150,000 Staten Island, NY – 1st mortgage construction loan to develop a 138,293 SF self-storage facility
•$7,400,000 Brooklyn, NY – 1st mortgage secured by a 31,842 sf commercial building in Williamsburg
•$7,000,000 Big Sky, MT – 1st mortgage secured by a residential investment property
•$4,350,000 Gloucester, MA – 1st mortgage acquisition loan secured by a 170,669 SF industrial property (closed in 10 days).

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Eastern Union Funding announced the following transactions:

• A $50,000,000 first lien mortgage for the acquisition of a healthcare facility in New York This transaction was arranged by David Eisen, Nachum Soroka and Phil Krispin.
• A $37,800,000 first lien mortgage for the acquisition of a 246-unit healthcare facility on Brace Rd in Cherry Hill, NJ. This transaction was arranged by Phil Krispin and CJ Danziger.
• A $10,303,000 first lien mortgage for the acquisition of a 175-unit multifamily on Dogburn Rd in West Haven, CT. This transaction was arranged by Nate Hyman and David Metzger.
• A $7,714,000 first lien mortgage for the refinance of a 260-unit multifamily on N Garnett Rd in Tulsa, OK. This transaction was arranged by David Metzger and Nate Hyman.
• A $4,340,000 first lien mortgage for the refinance of a 13-unit mixed-use on Kosciuszko St in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• A $2,400,000 first lien mortgage for the refinance of an 18-unit multifamily on Ridge Ave in Spring Valley, NY. This transaction was arranged by Moti Amsel and Jay Tyberg.
• A $1,600,000 first lien mortgage for the refinance of a retail property on Main St in Daytona Beach, FL. This transaction was arranged by David Metzger and Nate Hyman.
• A $1,600,000 first lien mortgage for the acquisition of a single tenant commercial property on Main St in Olyphant, PA. This transaction was arranged by Chesky Gross.
• A $1,400,000 first lien mortgage for the refinance of a 6-unit multifamily on Sterling Pl in Brooklyn, NY. This transaction was arranged by Jay Tyberg and Moti Amsel.
• A $1,000,000 first lien mortgage for the refinance of a 12-unit multifamily on Dekalb Ave in Perth Amboy, NJ. This transaction was arranged by Yossi Orzel and Abraham Bergman.
• An $825,000 first lien mortgage for the acquisition of a 4-unit multifamily on Richmond St in Brooklyn, NY. This transaction was arranged by Isaac Weiss.

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Hirshmark Capital LLC, through an affiliate entity, recently closed the following transactions:

• $11,500,000 bridge loan secured by a 5-story, 30,000 SF, multifamily elevator building in downtown Brooklyn. Hirshmark Capital’s Jake Soodek negotiated this transaction.
• $2,450,000 bridge loan secured by a 4-story building in the Park Slope neighborhood of Brooklyn.  Mikhail Gurevich negotiated this transaction.
• $2,225,000 purchase of a 3-family property in the Park Slope neighborhood of Brooklyn. The subject property is a 3-story, 3,000 SF brick building.  Saul Hedaya negotiated this transaction.
• $1,800,000 bridge loan secured by a multifamily building in Bedford-Stuyvesant. Igor Vaysberg negotiated this transaction.
• $2,900,000 bridge loan secured by two mixed-use properties in Bedford Stuyvesant and one multifamily property in Clinton Hill.  Matthew Schatzle negotiated this transaction.
• $1,200,000 bridge loan secured by a multifamily property in the Bedford Stuyvesant neighborhood of Brooklyn.  Michael Fuller negotiated this transaction.
• $2,000,000 bridge loan secured by a development site in the Prospect Heights neighborhood of Brooklyn. Jake Soodek negotiated this transaction.
• $3,600,000 bridge loan secured by 6 properties in the Bronx.  Patty Jafari negotiated this transaction.
• $2,550,000 bridge loan secured by a retail/industrial building in the Williamsburg neighborhood of Brooklyn.  Patty Jafari negotiated this transaction.

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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $80,900,000 for the following properties:

• $40,000,000 for a seven-story commercial building comprised of approximately 165,000 gross square feet, located in the Brownsville section of Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $14,600,000 for a garden apartment complex comprised of 9 two-story buildings containing a total of 148 units, located in West Babylon, Suffolk County. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $9,550,000 for a six-story multifamily apartment building containing 117 units, located on East 175th Street in the Bronx. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $8,750,000 for a six-story multifamily apartment building containing 41 units and 4,660 square feet of commercial space, located on West 157th Street in Manhattan. David Sessa, Managing Director, and Louis Perlmutter, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
• $8,000,000 for a five-story multifamily apartment building containing 4 residential units and 1 ground floor retail unit, located on East 19th Street in Manhattan. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.