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Debt & Equity

TRANSACTIONS: Roundup of Under $10M CRE loans

GCP Capital Group has arranged mortgage financing in the aggregate amount of $20,425,000 for the following properties:
• $11,000,000 for a three-story and eight-story multifamily apartment building containing 89 units, located in Yonkers. Paul Greenbaum, managing member, arranged the financing for this transaction.
• $4,000,000 combined financing for three three-story multifamily apartment buildings containing a total of 18 units, located in the Greenpoint neighborhood of Brooklyn. Matthew Albano, managing director, arranged the financing.
• $2,775,000 for a two-story commercial building comprised of 12,250 square feet, located on Allerton Avenue in the Bronx. Adam Brostovski, managing membe, arranged the financing for this transaction.
• $2,650,000 for a 10,200 s/f retail shopping center, located in North Babylon, Suffolk County. Matthew Classi, managing member, arranged the financing for this transaction.

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W Financial has provided the following bridge loans which were handled by Jarret Schochet, David Heiden, Andrew Singer and TJ Randall:
• A $975,000 bridge loan secured by a mixed-use building located on East Evans Avenue in the University Hills area of Denver, Colorado. The borrower needed the loan proceeds for business purposes and the loan is expected to be repaid upon the sale of the property.
• A $5,000,000 first mortgage bridge loan (W’s senior portion of the total loan), secured by a development site located on Cropsey Avenue in the Gravesend neighborhood of Brooklyn. This loan is expected to be repaid when the junior lender refinances the senior bridge loan with bank financing.

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Eastern Union Funding announced the following transactions:
• $6,780,000 first lien mortgage for the acquisition of a 120-unit multifamily property in Austell, GA. The transaction was arranged by Michael Muller and Marc Belsky.
• A $6,100,000 first lien mortgage for the refinancing of a 12-unit mixed use property in Brooklyn, NY. The trnasaction was arranged by Ira Zlotowitz, Rinchas Vogel, Michael Wayne and Avi Gorbacz.
• A $5,900,000 first lien mortgage for the acquisition of a 100-unit multifamilt property in Austell, GA. This transaction was arranged by Michael Muller and Marc Belsky.
• A $3,132,000 first lien mortgage for the acquisition of a 25-unit office building in New City, NY. This transaction was arranged by Abe Kolman.

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