New York, NY Juniper Capital Group arranged four loans totaling $26.8 million across four states.
• A $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468 s/f, big-box retail shopping center in Troy, Mich.
The borrower was Avram Weissman of the Weissman Corp. and the lender was C3 Capital Partners. The term of the non-recourse loan was 24 months at libor + 400. Juniper Capital Group’s Nate Lowy negotiated the deal in under 30 days with a 75% LTV bridge loan to allow the borrower to bring the property to stabilization.
Other recent originations include:
• Classic American, a 150-unit rental garden apartment style multifamily complex in Syracuse, New York received a $6 million cash-out refinance 10-year loan that features a two-year interest-only period.
“The Syracuse market is seen as a very strong secondary market due to the university’s expansion that caused a small housing shortage,” added Juniper Capital’s Nate Lowy, who also negotiated the deal on behalf of the borrower, Abraham Motechin of Vintage Management and the lender, Hunt Mortgage Group.
• A $5.3 million (FNMA loan) for “The Regency at Raleigh,” a 200-unit multifamily building in Memphis, Tenn.
The ten-year loan, that closed in under 30 days as the borrowers’ loan matured, recently reached stabilization. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and undisclosed borrower.
• A $5 million Freddie Mac loan for a 135-unit multifamily portfolio of garden style townhomes in Hartford, CT.
The loan features a three year interest only period with a flexible prepay structure. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and the undisclosed borrower. The properties utilized Freddie’s link loan program to achieve aggressive terms.
Sign up is quick, easy, & FREE.
