Real Estate Finance

Real Estate Weekly, July 2, 2003

Meridian Capital Group LLC announced the following transactions:

* Meridian arranged a new mortgage of $7.936 million on (2) 7 story apt. buildings totalling 176 units, on Cooper Landing Road in Cherry Hill NJ. The loan featured a 10-year term. Scott Assouline negotiated the transaction.

* Meridian arranged financing of $5.55 million on a 272 unit, 16 story coop building on 215th Street in Bayside, NY. The loan featured a rate of 4.9% and a 10 year term. David Ganz & Jeffrey J. Weinberg negotiated the transaction.

* A new mortgage was placed by Meridian for $5.5 million on a 60,000-SF commercial building on Seventh Avenue in New York City. The property will benefit from a rate of 5.75% with a 7 year term. Jeffrey J. Weinberg & David Ostrov handled this transaction.

* Meridian placed a new mortgage of $2.32 million on a 41 unit, 2 story apt. building on Maple Avenue in Rockville Centre, NY. The loan featured a rate of 4.75% and a 10 year term. Cary E. Pollack negotiated the transaction.

* A new mortgage of $1.8 million was arranged by Meridian on a 48 unit, 6 story apt. building on Quentin Road in Brooklyn, NY. The loan featured a rate of 4.96% and a 7 year term. Avi Weinstock and Josh Rhine negotiated the transaction.

* A new mortgage of $1.675 million was placed by Meridian on a 17 unit, 5 story apt. building on York Avenue in New York City, The loan featured fixed rate financing of 3.94%, Jeffrey J. Weinberg negotiated the transaction.

* A new mortgage of $800,000 plus a $200,000 line of credit was placed by Meridian on a 40 unit, 5 story co-op building on West 44th Street in New York City. The loan featured a rate of 4.330% and a 10 year term. Daniel Hanono negotiated the transaction.

M. Robert Goldman & Company, Inc. arranged a $30.8 million loan for a 218,595 SF shopping center in Patchogue, N.Y. The loan featured a 20-year rate and a 25-year amortization schedule. Jonathan Goldman, executive vice president, arranged the financing for this transaction.

GMAC Commercial Mortgage Corporation arranged a $3 million permanent loan for a three-story, 43,500 SF office building on Old Country Road in Garden City, N.Y. David Fishier, vice president, arranged the financing for this transaction.

Mercury Capital Corporation arranged a $2.5 million first mortgage for a partially completed condo project in Brooklyn, N.Y. The loan featured a one-year term.

Houlihan Parnes/iCap Realty Advisors arranged a $10 million first mortgage for an 111,000 SF office building on Route 46 in Mountain Lakes, N.J. The loan featured a 5.5% rate, a 10-year term, and a 30-year amortization schedule. Jack Houlihan arranged the financing for this transaction.

GCP Capital Group LLC announced the following transactions:

* A $21 million loan for a package of 2 apartment buildings in New York City;

* A $4.34 million loan for a six-story apartment building on Vermilyea Ave. in New York City.

* A $2.6 million loan for two six-story apartment buildings or St. Nicholas Ave. in New York City;

* A $4 million loan for three five-story apartment buildings on W. 175th St. in New York City;

* A $2 million loan for two six-story, mixed-use buildings on Eagle St. in Brooklyn, N.Y.

Matthew Classi Adam Brostovski, Paul Greenbuam, Mathhew Albano, and Alan Perlmutter arranged the financing for these transactions.