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Brokerage
Posted: January 10, 2017
Ariel Property Advisors’ Capital Services Division arranges $1 million loan
Brooklyn, NY Ariel Property Advisors’ Capital Services Division recently arranged a $1 million loan for a property in the northern Park Slope neighborhood.
The division arranged the 5-year, non-recourse cashout loan with a stepdown prepayment penalty at 3.5% for a four-unit multifamily property that was recently converted from a 7-unit.
The property was owned free and clear by foreign investors that were looking to recapitalize their equity investment from the conversion.
The division also negotiated the option for an additional $1 million in proceeds within the first 12-months of funding.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
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