Real Estate Weekly
Image default
Deals & Dealmakers

TRANSACTIONS: W Financial places bridge loans

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

• A $2,715,000 bridge loan secured by an eight-unit, multi-family building located on Bushwick Avenue, in Brooklyn. The building is partially occupied and the borrower ran into an issue with an existing tenant, prompting the bank that previously held the loan to sell it to a private lender. W Financial refinanced the first mortgage and the borrower plans to refinance W’s bridge loan with a conventional lender once the issue with the tenant has been resolved.

• A $3,700,000 bridge loan collateralized by a garden-style rental community located on Northside Drive in Warner Robbins, Georgia. The borrower had acquisition financing lined up, but the lender backed out of the deal at the last minute. W Financial was able to close the loan quickly so the borrower did not lose his deposit and was able to successfully acquire the property. W Financial expects to be repaid with an agency loan.

•••

Eastern Union Funding announced the following transactions:

• A $62,850,000 first lien mortgage for the refinance of a 70-unit multifamily property in New York. This transaction was arranged by David Eisen and Chaim Greenfeld.

• A $60,500,000 first lien mortgage for the refinance of a 640-unit multifamily property in Norfolk, VA. This transaction was arranged by Jeffrey Seidenfeld.

• A $52,075,000 first lien mortgage for the refinance of a 3-unit mixed-use property in Brooklyn,. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $39,811,308 first lien mortgage for the acquisition of a 592-unit multifamily property in Dundalk, MD. This transaction was arranged by Jeffrey Seidenfeld.

• A $30,400,000 first lien mortgage for the acquisition of a 338-unit multifamily property in West Monroe, LA. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

•••

Meridian Capital announced the following transactions:

• A new mortgage of $12,500,000 on a cooperative property totaling 350 units located on Bennett Avenue in New York. The loan features a rate of 2.80% and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.

• A new mortgage of $9,400,000 on a 58-unit cooperative on Gracie Square, New York. The loan features a rate of 3.15% and a 10-year term. Steve Geller and Nicoletta M. Pagnotta. negotiated this transaction.

• A new mortgage of $4,700,000 on a multifamily property totaling 14 units located on 18th Street in Astoria, NY. The loan features a rate of 3.34% and a seven-year term. This transaction was negotiated by David Steinmetz and Joseph Akerman.

(Visited 1 times, 1 visits today)

Related posts

Robotics startup takes 54,000 s/f at 1900 Broadway

REW

SL Green signs Chelsea Piers Fitness as first tenant at One Madison

REW

11-building Manhattan portfolio trades for $190M

REW