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Debt & Equity

TRANSACTIONS: Eastern Union Funding arranges healthcare loan

Eastern Union Funding announced the following transactions:
• A $29,000,000 first lien mortgage for the acquisition of a single unit healthcare property in Arverne, NY. This transaction was arranged by Yossi Rubin and Nachum Soroka.
• A $12,750,000 first lien mortgage for the refinance of a 160-unit multifamily property in Charleston, SC. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $12,471,000 first lien mortgage for the refinance of a 84-unit multifamily property in Springfield, OH. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $9,000,000 first lien mortgage for the refinance of a 30-unit multifamily property in New York, NY. This transaction was arranged by Michael Muller.
• A $7,800,000 first lien mortgage for the refinance of a 65-unit mixed-use property o in Bronx, NY. This transaction was arranged by Ira Zlotowitz, Abraham Bergman, Michael Muller.
• A $5,500,000 first lien mortgage for the refinance of a single unit warehouse in Morrisville; PA. This transaction was arranged by Abraham Bergman and Yossi Orzel.
• A $4,850,000 first lien mortgage for the refinance of a 25-unit mixed-use property in Monroe, NY. This transaction was arranged by Abraham Bergman and Eli Schwartz.
• A $2,490,000 first lien mortgage for the acquisition of a 10-unit mixed-use property in Washington, DC. This transaction was arranged by Marc Tropp and David Merkin.
• A $2,300,000 first lien mortgage for the refinance of a 29-unit multifamily property Philadelphia, PA. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $2,200,000 first lien mortgage for the refinance of a 4-unit multifamily property in Brooklyn, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $2,175,000 first lien mortgage for the refinance of a 6-unit multifamily property in Ridgewood, NY. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $1,400,000 first lien mortgage for the refinance of a 16-unit multifamily property in Bronx, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.

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Meridian Capital announced the following transactions:
• A new mortgage of $15,000,000 on a 136-unit multifamily property on Lasatta Avenue in Englishtown, NJ. The loan features a rate of 3.15%. This transaction was negotiated by Sol Spitzer.
• A new $11,600,000 mortgage on a multifamily property located on Drake Avenue in New Rochelle, NY. The loan features a rate of 3.00% . Eli Serebrowski negotiated this transaction.
• An $11,250,000 mortgage on a mixed-use property totaling 20 units located on Livingston Street in Brooklyn. The loan features a rate of 2.90%. The transaction was negotiated by Charles Grussgott.
• A mortgage of $5,900,000 on a 161-unit multifamily property located on 164th Street in Queens. The loan features a rate of 3.50%. Avi Weinstock negotiated this transaction.
• A mortgage of $3,850,000 on a 24-unit multifamily property on Willoughby Avenue in Brooklyn, NY. The loan features a rate of 3.35% . This transaction was negotiated by Morris Diamant.
• A $3,225,000 mortgage on a multifamily property on White Horse Pike in Collingswood, NJ. The loan features a rate of 3.38% . Jacob Schmuckler negotiated this transaction.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $70,475,000 for the following properties:
• $37,650,000 for an 11-story plus penthouse multifamily apartment building containing 159 units, in Crown Heights , Brooklyn. Adam Brostovski arranged the financing.
• $15,825,000 for a six-story mixed-use building containing 59 apartments and 7,000 s/f of commercial space, located in the Upper East Side of Manhattan. Paul Greenbaum arranged the financing.
• $10,500,000 for a six-story mixed-use building containing 56 units and approx. 4,500 s/f in the Washington Heights section of Manhattan. Stephen Katz arranged the financing for this transaction.
• $6,500,000 for a four-story mixed-use building containing 6 apartments and 14,750 s/f of commercial space, located on West 139th Street in Manhattan. Matthew Classi arranged the financing.

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Helmsley Spear arranged a refinancing transaction for Kings Hotel, located at 2416 Atlantic Avenue in Brooklyn. The loan was arranged by Showket Ahamed at Helmsley Spear and Brooks Lewis of Coronado Bay Capital, with Crown Bank providing financing. The $9.5 million fixed rate loan has a 10-year term and 25-year amortization.
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Arbor Realty Trust financed a Fannie Mae Small Loan in Kingston, PA. Chapin Apartments received $3.4 million in cash-out refinance funding through the program. This is a 7-year deal with a 30-year amortization. Ryan Duff of Arbor’s New York City office originated the loan. Chapin Apartments at 151 East Walnut Street is a garden-style community comprised of four buildings and a total of 60 units. While the units were built in 1939 and 1950, most were renovated in 2018. The complex features a fitness center, resident lounge, storage lockers and a covered parking garage across the street.

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