Delancey Street Associates arranged a $8.75 million loan from Goldman Sachs CMBS group through a refinancing for the community facility portion of the Frances Goldin Senior Apartments ag, a building that offers 99 affordable senior residences, at Essex Crossing.
Delancey Street Associates is a joint venture of BFC Partners, L+M Development Partners, Taconic Investment Partners, the Prusik Group and the Goldman Sachs Urban Investment Group.
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Procida Funding announced it provided a $1,750,000 debt consolidation loan to refinance the existing debt on Hobby Lobby Marine, a family owned and operated boat repair facility and marina, located at 1427 Bay Avenue and 40 Wilkens Road in Toms River, NJ.
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Greystone announced it has provided a $91,587,000 Freddie Mac loan for the acquisition of Lincoln Green, a 636-unit multifamily property in Philadelphia.
The loan was originated by Dan Sacks of Greystone’s New York office for the benefit of a New Jersey-based sponsor with a 3,500 unit portfolio predominantly concentrated in the Philadelphia area.
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Holliday Fenoglio Fowler announced a $41.5 million loan for Middlesex Logistics Center, a fully leased, Class A, 507,000-square-foot warehouse and distribution center in the New York Metro-area community of Edison, New Jersey.
The HFF team worked on behalf of the borrower, Cohen Asset Management, to place the 10-year, fixed-rate loan with Principal Real Estate Investors.
The HFF debt placement team representing the borrower included senior managing director Jon Mikula and analyst Andrew Zilenziger.
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Lightstone secured a $35.6 million loan from Bank OZK for the acquisition of a site for the development of a new Moxy hotel located at the corner of Bowery and Broome Street. The 298-key hotel will be Lightstone’s fourth Moxy in New York City.
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Atlas Hospitality, in partnership with Fortuna Realty Group, secured a $40 million construction loan from Bank America Merrill Lynch for development of a 128-key luxury boutique hotel at 120-122 Water Street in the Financial District. Fortuna will develop and manage the 26-story building upon its opening in 2020.
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Greystone arranged a $24 million HUD-insured loan to refinance a skilled nursing facility property in the Bronx.
The transaction was originated by Fred Levine, managing director in Greystone’s Monsey, NY office, on behalf of Eastchester Realty Associates.
The non-recourse $23,904,000 permanent FHA financing of the 200-bed Eastchester Rehab & Health Care Center, carries a low, fixed interest rate and 30-year term and amortization.
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Emerald Creek Capital has provided a $17,000,000 loan for four adjacent mixed-use and multifamily properties in the Kips Bay neighborhood of New York, NY.
The buildings encompass 41 units and total 25,500 square feet of existing building area. The borrower’s long-term plan is to redevelop the properties into a 21-story luxury tower consisting of 90 residential units and 3,219 square feet of ground floor retail.
Financing was originated by Emerald Creek’s senior associate Matt Fantuzzi.
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Holliday Fenoglio Fowler provided a $29 million loan for 44 East 32nd Street, a 12-story, 91,111 s/f office building with street level retail in the Midtown South submarket of Manhattan.
The HFF team worked on behalf of the borrower, New York-based Windsor Management Corporation, to secure the 10-year, fixed-rate acquisition loan through a life insurance company.
The HFF debt placement team representing the borrower included managing director Steven Klein and associate Alex Staikos.
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Juniper Capital Group arranged a $23.3 million loan for the acquisition of Woodmont Square, a 100-unit high-end residential complex of garden apartments in Bridgewater, New Jersey, where 20 percent of the units are affordable.
A local bank supplied the 10-year loan at four percent interest to a local investor who purchased the two rental buildings at 100 Bellis Court for $32.6 million. The new owner plans to operate the assets and believes rents in this part of Northern New Jersey will continue to increase.
Nate Lowy, president of Juniper Capital Group, arranged the financing.
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Progress Capital secured a $26,350,000 loan on behalf of Shaky Cohen and Nexus Building Group to finance the construction of a condominium complex at 176 East 82nd Street.
Located on the Upper East Side of Manhattan, this building will include 9 luxury residential units and one commercial space on the ground floor.
Brad Domenico, partner at Progress Capital, negotiated and secured the construction loan with Michael Hoffenberg and Charlie Zabriskie of Trevian Capital.
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Arbor Realty Trust arranged a $43.2M loan for Wolvering Crossing, a 258-unit dedicated student housing property, in Utah.
The deal comes with a 12-year term and a seven-year interest only period.
Garth Davis of Arbor’s San Francisco office originated the loan.
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Newmark Knight Frank secured $60 million in financing on behalf of RealSource Residential from Varde Partners for the refinancing of a portfolio of multifamily properties located in Greensboro, North Carolina and Fairfield, Ohio.
The NKF team that arranged the transaction was led by vice chairmen and co-heads Dustin Stolly and Jordan Roeschlaub, Managing Director Nick Scribani and Associate Director Josh Egert.
The portfolio of garden-style buildings totals 816 units and was acquired between 2015 and 2016. RealSource implemented a strategy of improving common areas and unit interiors across the properties.
