M. Robert Goldman & Company, Inc. (MRG) has arranged $105 million acquisition financing for an affiliate of Lighthouse Real Estate Ventures covering 22 industrial properties totaling over 1.7 million s/f located in New York, New Jersey and Connecticut.
Jonathan Goldman, executive VP and John Robustello, VP of MRG, arranged the financing through the company's correspondent relationship with John Hancock Life Insurance Company.
"Spreads on all classes of debt are at historic highs," said Goldman. "Certainty of execution was paramount as the subject was part of a larger 1031 transaction. The size of the deal also presented numerous challenges as many of the traditional players including investment banks and insurance companies are either out of the market or have dramatically reduced their whole loan allocations. John Hancock stayed true to course, held their rate lock as spreads widened, and marshaled the resources necessary to close the loan within the necessary timeframe."
Properties in the New York portion of the transaction include: 103 Fairview Park Dr., Elmsford; 199 Ridgewood Dr., Elmsford; 203 Ridgewood Dr., Elmsford; 401 Fieldcrest Dr., Elmsford; 412 Fairview Park Dr., Elmsford; 404 Fieldcrest Dr., Elmsford; 36 Midland Ave., Port Chester; 100-110 Midland Ave., Port Chester; 112 Midland Ave., Port Chester; and 8 Slater St., Port Chester. Tags: