Real estate finance

Real Estate Weekly, March 13, 2002

Meridian Capital Group announced the following transactions:

* A $10.5 million new mortgage on a purchase of a 21-story, 206,271-SF Class B+ office building on Walnut Street in Center City, Philadelphia. The property was sold by a subsidiary of GE Capital to Meridian's client. The loan has a 10-year term floating over LIBOR. Moshe Majeski and Aaron Birnbaum originated the deal

* A $4.6 million new mortgage for a two-story multi-family building on 76th Road in Flushing, N.Y. The loan featured a 5.87% rate and a 10-year term. Scott Assouline and Moshe Majeski arranged the financing for this transaction;

* A $1.988 million new mortgage for a four-story multi-family building on W. 14th St. in New York City. The loan featured a 6.5% rate and a 10year term. Charles Grussgott arranged the financing for this transaction;

* A $1.4 million new mortgage for a six-story, multi-family building on Northern Boulevard in Flushing, N.Y. The loan featured a 6.125% rate and a 10-year term. Morris Diamant and Joe Klein arranged the financing for this transaction;

* A $1.35 million new mortgage for a six-story, mixed-use apartment building on W. 183 St. in New York City. The loan featured a 6.375% rate and a 12-year term. Allan Lieberman arranged the financing for this transaction;

* A $1.34 million new mortgage for a three-story, multi-family building on Chancellor Ave. in Newark, N.J. The loan featured a 6.75% rate and a 10-year term. Saul Piller and Avi Weinstock arranged the financing for this transaction.

Emigrant Savings Bank announced the following transactions:

* A $221,000 acquisition loan for a three-story, mixed-use walk-up in Weekhawken, NJ.;

* A $140,000 refinancing for a three-story, non-elevator building in Brooklyn, N.Y.;

* An $81,600 refinancing for a two-story, mixed-use walk-up in Brooklyn, N.Y.;

* A $260,000 acquisition loan for a three-story elevator building and a two-story extenstion walk-up in Jersey City, N.J.;

* A $300,000 refinancing for a four-story, non-elevator building in Brooklyn, N.Y.;

* A $175,000 refinancing for a four-story, mixed-use building in Brooklyn, N.Y.;

* A $275,000 refinancing for a three-story, mixed-use, walk-up building in Rego Park, N.Y.;

* A $450,000 acquisition loan for two three-story elevator buildings in Brooklyn, N.Y.;

* A $225,000 refinancing for two three-story, non-elevator buildings in New Britain, Conn.;

* A $900,000 refinancing for a seven-story, elevator building in New York City;

* A $1.05 million acquisition loan for a five-story, mixed-use, walk-up in New York City;

* A $225,000 acquisition loan for a three-story apartment building in Brooklyn, N.Y.;

* A $1.1 million refinancing for nine class "A" apartment buildings in Howard Beach, N.Y.;

* A $225,000 acquisition loan for a three-story walk-up in Brooklyn, N.Y.;

* $155,000 refinancing for a four-story apartment building in Brooklyn, N.Y.;

* A $125,000 refinancing for a two-story, mixed-use walk-up in North Bergen, N.J.;

* A $175,000 refinancing for a three-story, mixed-use walk-up in Jersey City, NJ.;

* A $60,000 acquisition loan for a two-story walkup apartment buildings in Swedesboro, N.J.;

* A $300,000 refinancing for a four-story, non-elevator building in New York City;

* A $800,000 refinancing for a five-story, mixed-use, walk-up building in New York City;

* A $700,000 refinancing for a six-story elevator building in Brooklyn, N.Y.

Holliday Fenoglio Fowler, L.P. announced that it has arranged financing for two industrial/office properties in Edison, N.J. The loan featured a 10-year term. Anthony M. Cuccia, senior managing director, and Jim Cadranell, associate director, arranged the financing for this transaction.

ARCS Commercial Mortgage Co., L.P. arranged a $48.5 million loan for an apartment complex on E. 34th St. in New York City. The loan featured a 6.5% rate, a 10-year term, and a 30-year amortization schedule.

David Cronheim Mortgage Corporation announced the following transactions:

* A $15 million acquisition loan for a multifamily apartment building in Berkeley, NJ.;

* A $22.8 million acquisition loan for a multifamily apartment building in Staten Island, N.Y.;

* A $3.9 million acquisition loan for a 44,195 SF office building in Wethersfield, Conn.;

* A $650,000 loan for a one-story, 13,075 SF retail center in East Northport, N.Y.;

* A $474 million loan for a 49,115 SF, three-building retail outlet in Flemington, N.J.

Colonial Group Ltd. arranged a $940,000 first mortgage for a two-story garden apartment complex in Mamaroneck, N.Y. The loan featured a 6.99% rate and a 10-year term.

The National Cooperative Bank announced the following transactions:

* A $550,000 line of credit for a co-op building on 73rd St. in Jackson Heights, N.Y. Paulette Bonanno arranged the financing for this transaction;

* A $425,000 second mortgage for a co-op building on W. 16th St. in New York City. Paulette Bonanno arranged the financing for this transaction.

M. Tuck Capital Associates announced the fololowing transactions: