Business Services Industry
Real Estate Finance
Real Estate Weekly, Oct 9, 2002
Meridian Capital Group announced the following transactions:
* Meridian Capital Group arranged a new mortgage of $5.95 million on a 126 unit, 6 story building on Queens Boulevard in Rego Park, N.Y. The loan featured a rate of 5.4% and a 10 year term. Jeffrey J. Weinberg & David Ostrov negotiated the transaction.
* A new blanket mortgage of $4.5 million was placed by Meridian on two 4 story Multifamily Buildings on Newton Ave in Long Island City, N.Y. The loan featured a rate of 6.25% and a 15 year term. Michael Kesselman negotiated the transaction.
* A new mortgage of $2 million was placed by Meridian on a 58 unit, 5 story rental building on Bailey Avenue in Bronx, N.Y. The loan featured a rate of 5.970% and a 15 year term. The transaction was negotiated by Morris Diamant.
* A new mortgage of $1.8 million was arranged by Meridian on a 85 unit, 6 story building on Boynton Avenue in the Bronx. The loan featured a rate of 6.5% and a 15 year term. Michael Kesselman negotiated the transaction.
* A new mortgage of $1.35 million was placed by Meridian on a 16 unit, 5 story building on Cleveland Place in New York City. The loan featured a rate of 6.375% and a 10 year term. Joseph Taub negotiated the transaction.
* A new mortgage of $1.08 million was placed by Meridian on a 53 unit, 5 story building on Ryer Avenue in the Bronx. The loan featured a rate of 5.75% and a 10 year term. Avi Weinstock & Moshe Majeski negotiated the transaction.
Holliday Fenoglio, L.P. arranged a $4.975 million loan for a 14,200 SF retail building in Westport, Conn. Timothy J. Breda, director, and Christine R. Riniti, senior real estate analyst, arranged the financing for this transaction.
GCP Capital Group LLC announced the following transactions:
* A $1.65 million loan for a six-story apartment building on W. 184th St. in New York City;
* A $2.4 million loan for a six-story apartment building on W. 227th St. in New York City;
* A $1.45 million loan for a five-story apartment building on Morris Ave. in the Bronx;
* A $1.05 million loan for two contiguous five-story apartment buildings on W. 180th St. in New York City;
* A $1.35 million loan for a six-story apartment building on Audubon Ave. in New York City;
* A $2.45 million loan for a six-story apartment building on W. 228th St. in New York City;
* A $2.45 million loan for a six-story apartment building on Bailey Ave. in the Bronx;
* A $1.15 million loan for a six-story apartment building on Broadway in New York City.
Paul Greenbaum and Adam Brostovski arranged the financing for these transactions.
Holliday Fenoglio Fowler, L.P. arranged a $10 million loan for a 180,308 SF industrial facility in Jersey City, N.J. Thomas Didio, senior managing director, arranged the financing for this transaction.
BRT Realty Trust announced the following transactions:
* A $1.2 million loan for an apartment building in Newark, N.J.;
* An $850,000 first mortgage for a multifamily building in Hartford, Conn. The loan featured a one-year term;
* A $2.586 million loan for a 60,000 SF office building in Jersey City, N.J.
Holliday Fenoglio Fowler, L.P. arranged an acquisition loan for a three-building industrial portfolio in Branchburg, N.J. and Lehigh Valley, Penn. Jonathan Mikula, senior director, arranged the financing for this transaction.
Column Financial, Inc. announced its Connecticut office has financed a 47 unit multifamily project in New Haven, Conn. for $1.275 million. The financing was structured as a 10-year term, 20-year amortization, 75% LTV, and a l.57x.
Column Financial, Inc. announced its Connecticut office has financed a 36 unit multifamily project in E. Hartford, Conn. for $1 million. The financing was structured as a 10-year term, 25-year amortization, 78% LTV, and a l.30x.
Emigrant Funding Corporation announced the closing of 25 loans totaling $10.565 million for September:
* Acquisition financing for $172,500 for a two-story, mixed-use, walk-up building with (2) apartments and (1) commercial unit located in The Bronx, N.Y.
* Acquisition financing for $200,000 for a three-story, mixed-use, non-elevator building with (4) apartments and (1) commercial unit located in Harrison, N.J.
* Refinancing for $425,000 for a two-story, walk-up building containing (5) commercial units located in Brooklyn, N.Y.
* Refinancing for $200,000 for a four-story, mixed-use, non-elevator building with (10) class A apartments located in Manhattan, NY.
* Acquisition financing for $300,000 for a four-story, mixed-use, walk-up with (9) class A apartments located in Brooklyn, NY.
* Refinancing for $215,000 for a two-story, plus attic, mixed-use, non-elevator building containing (2) class A apartments (1) commercial unit, an outdoor parking lot and a (2) car garage located in the Bronx, NY.
* Refinancing for $1,250,000 for two single-story buildings containing (15) commercial units located in Mount Sinai, NY.
* Refinancing for $150,000 for a two-story, mixed-use, non-elevator building containing (2) apartments and (1) commercial unit located in Long Branch, NJ.
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