Finance: real estate

Real Estate Weekly, June 18, 2003

Meridian Capital Group LLC announced the following transactions:

* Meridian Capital Group procured financing of $19.52 million on a 365 unit, 2 story garden complex on Pinehurst Drive in Lakewood, NJ. The loan featured a rate of 3.98% and a 7 year term.

* Meridian arranged financing of $4.76 million on a 39 unit, 6 story apt building with 5 commercial spaces on Grand Street in Manhattan. The loan featured a rate of 3.63% and a 10 year term.

* A new mortgage of $4 million with a credit I line of $2,235,000 was arranged by Meridian on (1) 4-story & (2) 6-story apt. buildings totaling 54 units, plus 5 commercial spaces on East 21st Street in New York City. The loan featured a rate of 3.63% and a 10 year term.

* A new mortgage of $1.2 million with a credit line of $650,000 at 1% above prime was placed by Meridian on (2) 5 story apt. buildings totaling 27 units on Grand Street in Manhattan. The loan featured a rate of 3.7% and a 10 year term. Avi Weinstock negotiated the above transactions.

* Meridian arranged a new mortgage of $1.675 million on a 17 unit, 5 story apt. building on York Avenue in Manhattan. The loan featured fixed rate financing of 3.94%. Cary Pollack negotiated the transaction.

* A new mortgage of $1.2 million was placed by Meridian on a 34 unit, 4 story apt. building on Bathgate Avenue. in the Bronx. The loan featured a rate of 4.13% and a 10 year term. Samuel M. Spinner negotiated the transaction.

Pergolis Swartz Associates, Inc. announced the following transactions:

* A $4.65 million permanent loan for a six-story apartment building in New York City;

* A $3.2 million permanent loan for two six-story apartment buildings on E. 13th in New York City;

* A $1 million loan for an office building on Fifth Ave. in New York City. The loan featured a seven-year term;

* A $1.6 million construction loan for an office building in the Bronx;

* A $1 million permanent loan for an apartment building on Fifth Ave. in New York City;

* A $2.5 million interim loan for a residential condo building in Brooklyn, N.Y.;

* A $1.75 million permanent loan for a five-story townhouse in New York City;

* A $1.05 million permanent loan for a one-story retail building in Fort Washington, N.Y.;

* A $3.185 million permanent loan for a 70,000 SF mixed-use building in Garden City, N.Y.;

* A $1 million permanent loan for a six-story elevator building in Jersey City, N.J.;

* A $3.5 million permanent loan for four five-story retail buildings on Third Ave. in New York City;

* A $3 million permanent loan for two residential buildings on Third Ave. in New York City;

* A $3.6 million permanent loan for a nine-story co-op building in New York City;

* A $4.5 million permanent loan for a five-story apartment building in New York City.

David Cronheim Mortgage Corporation announced the following transactions:

* A $10.5 million loan for a 13.38-acre land parcel in New York State. The loan featured a 30-year term;

* A $1.45 million permanent loan for a two-building, 12,000 SF office complex in cranbury, N.J.;

* A $1.6 million permanent loan and. a $3.4 million loan for an apartment complex in West Hartford, Conn. The loan featured a 10-year term and a 25-year amortization schedule.

Houlihan-Parnes/iCap Realty Advisors announced the following transactions:

* A $3.5 million first mortgage for two apartment buildings on Walton Ave. in the Bronx;

* A $5 million acquisition loan for an apartment complex on E. 187th St. in the Bronx;

* A $425,000 loan for an auto repair shop on Central Ave. in White Plains, N.Y.;

* A $650,000 loan for a retail building on South Road in Pougbkeepsie, N.Y. The loan featured a 6.375% rate, a five-year term, and a 20-year amortization schedule.

Jim Coleman and Jeremiah A. Houlihan arranged the financing for this transaction.

Holliday Fenoglio Fowler, L.P. announced the following transactions:

* A $5.5 million first mortgage for a garden apartment community in Middletown, N.Y. Jon Mikula and Jim Cadranell arranged the financing for this transaction;

* A $5.2 million acquisition loan for a 59,654 SF mixed-use property on Boston Post Road in Milford, Conn. Tim Breda arranged the financing for this transaction.

Column Financial, Inc. announced the following transactions:

* A $600,000 loan for a multifamily project on Whalley Ave. in New Haven, Conn. The loan featured a 10-year term and a 30-year amortization schedule;

* A $1.92 million loan for a multi-family building on E. 52nd St. in New York City. The loan featured a 10-year term and a 25-year amortization schedule.

GCP Capital Group LLC announced the following transactions:

* A $46 million loan for two 25-story residential towers on W. 87th St. in New York City;

* A $5 million loan for four contiguous warehouse buildings on Dean St. in Brooklyn, N.Y.;

* A $4.5 million sub-leasehold interest for a to-be-built senior citizen complex in West Babylon, N.Y.;

* A $2 million loan for a six-story, mixed-use building on Ave. B in New York City;

* A $5 million loan for a six-story apartment building on Elbertson St. in Elmhurst, N.Y.