GCP Capital Group has arranged mortgage financing in the aggregate amount of $62,200,000 for the following properties:
• $24,550,000 combined financing for a portfolio of eleven multifamily apartment buildings containing a total of 213 units with 2,800 s/f of commercial space, located throughout Manhattan. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these transactions.
• $22,100,000 for two seven-story multifamily apartment buildings containing a total of 252 units, located on Gerard Avenue in the Bronx. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $10,550,000 construction financing for the development of a six-story residential building which will contain ten apartments, located in the Cobble Hill section of Brooklyn. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.
• $5,000,000 for a four-building industrial/manufacturing complex comprised of approx. 81,400 s/f, located in Freeport, Nassau County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
Meridian Capital Group has arranged the following loans:
• A new mortgage of $7,900,000 was placed on a multifamily property totaling 87 units located on Charlotte Court in Central Valley, NY. The loan features a rate of 3.63 percent and a five-year term. This transaction was negotiated by Morris Diamant and Joseph Akerman.
• Meridian placed a new mortgage in the amount of $5,400,000 on a 21-unit multifamily property located on Fifth Avenue in Brooklyn. The loan features a rate of 3.55 percent and a five-year term. Judah Hammer and Jared Kaufman negotiated this transaction.
• A new mortgage of $2,000,000 was placed by Meridian on a multifamily property totaling 23 units located on East 185th Street in the Bronx, NY. The loan features a rate of 3.65 percent and a seven-year term. This transaction was negotiated by Simon Rosenfeld and Craig Berger.
• Meridian placed a new mortgage in the amount of $1,700,000 on a 21-unit multifamily property located on East 185th Street in the Bronx, NY. The loan features a rate of 3.65 percent and a seven-year term. Simon Rosenfeld and Craig Berger negotiated this transaction.
• A new mortgage of $1,650,000 was placed on a multifamily property totaling six units located on Wilson Avenue in Brooklyn, NY. The loan features a rate of 3.65 percent and a five-year term. This transaction was negotiated by Morris Diamant and David Liechtung.
• Meridian placed a new mortgage in the amount of $1,180,000 on a six-unit multifamily property located on 19th Street in New York, NY. The loan features a rate of 3.63 percent and a five-year term. Steven Ribiat and Joseph Akerman negotiated this transaction.
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Cronheim Mortgage secured a $5,400,000 initial permanent funding for a self-storage facility in Connecticut which was recently renovated. There is an additional construction credit facility of $700,000 available for building 59 outdoor storage units upon receiving final municipal approvals.
The debt was provided by a regional Connecticut Bank. A fixed rate of 4.35 percent was locked on the initial tranche with one-year of interest only converting to a 25-year amortization schedule thereafter. When construction funds are drawn there will be I/O for 24-months at the same fixed rate and upon completion of construction that portion of the loan will convert to an amortizing loan as well.
Currently the self-storage facility has 993 interior climate-controlled units and is situated on a 7.63-acre site. The facility is operated by CubeSmart.
The client, Dealpoint Merrill, is a national self-storage developer.
Eastern Union Funding has arranged the following transactions:
• A $52,500,000 first lien mortgage for the refinance of a multifamily property in Denver, CO. This transaction was arranged by Jeffrey Seidenfeld.
• A $52,500,000 first lien mortgage for the refinance of a multifamily property in Louisville, KY. This transaction was arranged by Jeffrey Seidenfeld.
• A $26,425,000 first lien mortgage for the refinance of a 240-unit multifamily property in Tucker, GA. This transaction was arranged by Ira Zlotowitz and Michael Muller.
• A $22,180,000 first lien mortgage for the refinance of a 228-unit multifamily property in Raleigh, NC. This transaction was arranged by Jeffrey Seidenfeld.
• A $13,700,000 first lien mortgage for the acquisition of a senior living facility in Trenton, NJ. This transaction was arranged by Phil Krispin.
• A $8,890,000 first lien mortgage for the refinance of a 10-unit office building property in Washington, DC. This transaction was arranged by Marc Tropp and David Merkin.
• A $8,500,000 first lien mortgage for the acquisition of a multifamily property in Killeen, TX. This transaction was arranged by Jeffrey Seidenfeld.
• A $4,780,000 first lien mortgage for the refinance of a 8-unit multifamily property in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
• A $2,050,000 first lien mortgage for the acquisition of a 73-unit multifamily property in Dayton, OH. This transaction was arranged by Jeffrey Seidenfeld.
• A $1,745,000 first lien mortgage for the refinance of a 12-unit multifamily property in Philadelphia, PA. This transaction was arranged by Moti Amsel.
• A $1,575,000 first lien mortgage for the refinance of a multifamily property in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• A $1,500,000 first lien mortgage for the acquisition of a mobile home property in Greenville, NC. This transaction was arranged by Marc Tropp and Zevi Hofstatter.
• A $1,220,000first lien mortgage for the refinance of a mixed-use property in New York, NY. This transaction was arranged by Abraham Bergman.
