New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $40.08 million for the following five deals:
• $16.5 million for two five-story office buildings comprised of 140,000 s/f in Rockville Centre. Paul Greenbaum, managing member of GCP, arranged the financing.
• $13.78 million for a six-story multifamily apartment building containing 216 units on Jackson St. in Hempstead. Adam Brostovski, principal of GCP, arranged the financing.
• $2.3 million blanket financing for a one-story, single tenant commercial building comprised of 3,450 s/f in Hicksville and a gas station with a one-story convenience store comprised of 2,400 s/f in Bethpage. David Sessa, managing director of GCP, arranged the financing.
• $5 million interim loan for a senior citizen complex of ten two-story apartment buildings containing a total of 80 units in East Islip. Matthew Classi, managing member of GCP, arranged the financing.
• $2.5 million for a one-story retail strip center comprised of 11,000 s/f, located in Centereach. George Spanos, senior associate of GCP, arranged the financing.
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.