Kapahi of HKS Capital Partners closes $66 million permanent financing

August 25, 2014 - Front Section

Ayush Kapahi, HKS Capital Partners

HKS Capital Partners brokered a $66 million permanent financing on a Westchester apartment building - a 416 unit multifamily rental complex at Ridgeview Apartments at 32 Nob Hill Dr.
The seven year loan from Cantor Commercial Real Estate will be securitized. Ayush Kapahi of HKS brokered the transaction. He said the loan's rate was "in the fours" and features a three-year interest-only period.
The ownership entity, Ridgeview Partners LLC, is led by Stephen Reitano, the former deputy executive director of the Metropolitan Transportation Authority.
"The deal had many moving parts which required us to retain the right firm and we did," said Reitano
The owners bought the building in 2010 for $58 million, assuming $50 million in debt, said Kapahi. "With this mortgage they were able to take out equity, he said. "They took over management and did renovations and really hit a home run with the deal."
Thanks for Reading!
You've read 1 of your 3 guest articles
Register and get instant unlimited access to all of our articles online.

Sign up is quick, easy, & FREE.
Subscription Options
Already have an account? Login here
Tags:

Comments

Add Comment