Real Estate Weekly
Image default
Deals & Dealmakers

TRANSACTIONS: GCP Capital Group arranges $64,170,000 in aggregate financing

GCP Capital Group arranged mortgage financing in the aggregate amount of $64,170,000 for the following properties:

• $38,920,000 for a garden-style apartment complex containing 24 two-story buildings with a total of 338 units, located in Toms River, New Jersey. Adam Brostovski, Managing Member of GCP Capital Group, arranged the financing for this transaction.

• $10,000,000 combined 10 year fixed rate financing for five single tenant, 7-11 retail stores located throughout Long Island containing a total of 14,000 square feet. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for these transactions.

• $8,250,000 for 27 commercial condominium units located in Norwalk, Connecticut. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.

• $7,000,000 for four contiguous three-story mixed-use buildings containing a total of 8 apartments and 6,900 square feet of commercial space, located on Marcy Avenue in Brooklyn, New York. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.

•••

Juniper Capital Group secured a $5.15 million cash out refinance loan from Greystone for a 10-unit multifamily building in Prospect Lefferts Garden in Brooklyn. The newly built 10,000 s/f, four-story brick building, features 10 units and a gym in the basement. Nate Lowy negotiated the terms of the loan that included a 10-year, fixed, full term IO, and a J51 holdback.

•••

Meridian Capital announced the following transactions:

• A new mortgage of $13,000,000 on a retail property totaling 12,375 s/f located on West 34th Street in New York, NY. The loan features a rate of 3.63% and a five-year term. This transaction was negotiated by Elliott Birnbaum and Kerry Brick.

• A new mortgage in the amount of $8,300,000 on a 16-unit mixed-use property located on Spring Street in New York, NY. The loan features a rate of 3.63% and a five-year term. Alan Friedman and Eric Chapek negotiated this transaction.

• A new mortgage of $4,700,000 was placed on a multifamily property totaling 14 units located on Ellery Street in Brooklyn, NY. The loan features a rate of 3.63% and a five-year term. This transaction was negotiated by David Steinmetz and David Liechtung.

• A new mortgage in the amount of $3,090,000 on a 23-unit multifamily property located on Denison Street in Highland Park, NJ. The loan features a rate of 3.63% and a 36-month term. Jacob Schmuckler negotiated this transaction.

• A new mortgage of $3,000,000 on a multifamily property totaling 59 units located on Sedgewick Avenue in Yonkers, NY. The loan features a rate of 3.60% and a 10-year term. This transaction was negotiated by Allan Lieberman and Craig Berger.

• A new mortgage in the amount of $2,485,000 on a 24-unit multifamily property located on Carpenter Terrace South in Belleville, NJ. The loan features a rate of 3.63% and a 36-month term. Jacob Schmuckler negotiated this transaction.

•••

W Financial has provided the following bridge loans, which were handled by Jarret Schochet, David Heiden, Andrew Singer and TJ Randall:

• A $5,250,000 bridge loan secured by a mixed-use development site located on Jackson Avenue in the Long Island City neighborhood of Queens, NY. The borrower required a bridge loan to facilitate the acquisition of the property. He will continue to operate the existing buildings on a short-term rental basis until he is ready to begin developing the site, at which time it is anticipated that the W Financial loan will be replaced by development financing.

• A $2,000,000 first mortgage acquisition loan secured by more than 300 acres of residential land in Kalaheo on the South Shore of the island of Kauai in Hawaii. There is currently a single-family home on one of the 10 lots. The borrower had been the successful bidder at auction and needed to close expeditiously. W Financial moved quickly and was able to inspect the property, assess the market, and close the loan within a matter of days.

• A $3,500,000 bridge loan secured by a condominium unit located on West 21st Street between Tenth and Eleventh Avenues, in a recently constructed, 19-story, 44-unit luxury condominium building in the Chelsea neighborhood of Manhattan. The borrower needed a bridge loan to free up capital for another real estate investment opportunity. The borrower plans to repay the W Financial loan by selling the unit.

•••

Eastern Union Funding announced the following trnasactions:

• A $21,000,000 first lien mortgage for the acquisition of a 280-unit multifamily property in Independence, MO. This transaction was arranged by Jeffrey Seidenfeld.

• A $19,250,000 first lien mortgage for the refinance of a 79-unit office building in East Hanover, NJ. This transaction was arranged by Mendy Pfeifer and Motti Blau.

• A $3,750,000 first lien mortgage for the refinance of a 8-unit multifamily property in Brooklyn, NY. This transaction was arranged by Isaac Weiss.

• A $3,542,000 first lien mortgage for the acquisition of a 5-unit multifamily property in Washington, DC. This transaction was arranged by Marc Tropp and David Merkin.

• A $1,250 000 first lien mortgage for the refinance of a 5-unit multifamily property in Bronx, NY. This transaction was arranged by Abraham Bergman and Eli Schwartz.

(Visited 1 times, 1 visits today)

Related posts

Longtime owner sells Hoboken portfolio for $189M

Linda O'Flanagan

Kaufman JV acquires Midtown South building for $48.5M

REW

Urban American sells 400-unit multi-family portfolio

REW