Name & Title: Nate Lowy
Company Name: Juniper Capital Group
Address: 115 Broadway 5th Floor New York, NY 10006
What was your most notable project, deal, transaction or professional achievement in 2018?
In October, I financed a $32.5 million purchase of a 100 unit class A multifamily property on ten acres with two-story garden style apartments in New Jersey.
The deal was delayed while the borrower sold another warehouse and completed a 1031 exchange into our deal. There were numerous delays on the sale of the warehouse and to further complicate matters this was during the third quarter when interest rates went up.
Despite those challenges, I was able to leverage my relationship with the lender to extend their commitment and rate. Within days of the warehouse sale, we closed our deal.
The loan from a local lender was for $23.5 million, at 4% over ten years.