Queens, NY The Capital Services Division of Greiner-Maltz Realty Advisors (GMRA) has closed $1.725 million in fixed-rate financing for a 4,375 s/f, two-story industrial building in Long Island City.
The company turned to Greiner Maltz broker Ryan Maltz for guidance, when all other refinancing options did not materialize. The refinancing, completed with a regional community bank, replaced a purchase money note placed on the property at the time of acquisition. The fixed rate loan has a seven-year term, and is amortizing over 25 years. The loan features a fixed premium prepayment schedule, and represents a 66% loan to value.
“Our ability to identify both traditional and non-traditional capital sources and our complete involvement in all layers of the capital stack allows us to tailor our strategy for each clients’ needs,” said Ayall Schanzer, president and CEO at Greiner-Maltz Realty Advisors. “Once again, Greiner Maltz has demonstrated that we bring solutions to our clients where others cannot.”
GMRA’s Capital Services Division provides clients with customized advisory and integrated capital solutions for all asset classes. Our customized services include the structuring, arranging, and placement of debt and equity for new acquisitions, refinancing, and repositioning strategies.
Greiner-Maltz is a commercial real estate brokerage firm specializing in industrial, retail, office, development, and investment transactions in Brooklyn, Queens, Bronx, Westchester, Long Island, Connecticut and New Jersey. Greiner Maltz, offers full service, end-to-end capabilities, coupled with valuable market intelligence and insights, delivering the meticulous attention to detail and creativity required for a hassle-free experience and outstanding results. Our multi-disciplinary property expertise and extensive experience has been serving the complete range of market participants since 1953.