Meridian Capital announced the following transactions:
• A new mortgage in the amount of $23,000,000 on four multifamily properties totaling 79-units located on St. Marks Place in New York, NY. The loan features an initial rate of 3.46% and a five-year term. Simon Rosenfeld and Craig Berger negotiated this transaction.
• A new mortgage of $16,250,000 was placed on an eight-story, 40-unit multifamily property located on Front Street in New York, NY. The loan features an initial rate of 3.55% and a five-year term. This transaction was negotiated by Josh Rhine and Chesky Weiss.
• A new mortgage in the amount of $11,500,000 on a 20,000-sqaure-foot shopping center located on Commack Road in Commack, NY. The loan features a rate of 3.53% and a seven-year term. Bryan Kallenberg and Brian Flax negotiated this transaction.
• A new mortgage of $7,500,000 was placed on a six-story, 44-unit multifamily property located on Decatur Avenue in the Bronx, NY. The loan features an initial rate of 3.50% and a five-year term. Charles Grussgott and Michael Helmreich negotiated this transaction.
• A new mortgage in the amount of $5,000,000 on an 8,500-square-foot commercial property located on West 41st Street in New York, NY. The loan features an initial rate of 3.51% and a three-year term. Blake Orman and Brian Flax negotiated this transaction.
• A new mortgage of $1,250,000 was placed on a six-story, 22-unit multifamily property located on Allen Street in New York, NY. The loan features an initial rate of 3.375% and a five-year term. This transaction was negotiated by Jacob Rochlitz and Morris Diamant.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $24,298,000 for the following properties:
• $6,593,000 for a six-story multifamily apartment building containing 40 units, located on 46th Street in Queens, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $6,500,000 for a five-story mixed-use building containing 8 apartments and 1,700 square feet of commercial space, located on Columbus Avenue in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $6,105,000 for a 13,600 square foot retail building occupied solely by Walgreens, located in Santee, California. Paul Greenbaum, arranged the financing.
• $5,100,000 for a ground floor and lower level retail cooperative unit comprised of approximately 8,500 square feet, located on Broadway on the Upper West Side of Manhattan, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Knighthead Funding announced that its affiliated discretionary debt fund, Knighthead Special Situations Real Estate Fund II, LP, has recently provided financing for the following loan transactions;
• $25,000,000, New York, NY – 1st mortgage loan on a corporately owned condominium on Central Park West
• $5,600,000, Denver, CO – 1st mortgage loan to construct 17 town homes in the West Highlands section of Denver.
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Eastern Union Funding announced the following transactions:
• A $7,500,000 first lien mortgage for the refinance of a 71-unit multifamily on Rockaway Pkwy. in Brooklyn, NY. This transaction was arranged by Jeffrey Seidenfeld.
• A $5,100,000 first lien mortgage for the refinance of a 30-unit multifamily on Sneden Ct. in Spring Valley, NY. This transaction was arranged by Moti Amsel and Jay Tyberg.
• A $4,500,000 first lien mortgage for the refinance of a 20-unit, mixed-use on Winthrop St. in Brooklyn, NY. This transaction was arranged by Josh Horowitz and David Eisen.
• A $3,150,000 first lien mortgage for the refinance of a 25-unit multifamily on Beaumont Ave. in Bronx, NY. This transaction was arranged by Ira Zlotowitz and Michael Muller.
• A $2,526,000 first lien mortgage for the refinance of an 8-unit, mixed-use on Nostrand Ave. in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• A $2,200,000 first lien mortgage for the refinance of a 15,000-square-foot flex/industrial property on Saw Mill River Rd. in Yonkers, NY. This transaction was arranged by Abe Kolman.
• A $1,180,000 first lien mortgage for the acquisition of a 3-unit multifamily on Lafayette Ave. in Brooklyn, NY. This transaction was arranged by Isaac Weiss.
• A $1,050,000 first lien mortgage for the acquisition of a 6-unit multifamily on 65th Pl. in Ridgewood, NY. This transaction was arranged by Motti Blau.
• A $1,000,000 first lien mortgage for the acquisition of a 9-unit, mixed-use on Brighton 11th St. in Brooklyn, NY. This transaction was arranged by Alex Freund.
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Love Funding announced the closing of a $5.24 million loan to refinance Town Centre Senior Apartments, an affordable community in Broomfield, Colorado. Town Centre Senior Apartments consists of 88 affordable one-bedroom and two-bedroom units restricted to individuals aged 55 and higher. The units are housed within one three-story building originally constructed in 2001 with the assistance of low-income housing tax credits. The property sits between Boulder and Denver, in the foothills of the Rocky Mountains. The financing was secured by Love Funding Senior Vice President of Business Development Jonathan Camps through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. The HUD program provided the development team with low-rate, non-recourse financing that will pay off two existing loans. Part of the proceeds will be used to complete necessary repairs and fund the reserve account.
