According to Daniel Monte, president of The Rose Hill Group of WNY LTD (RHG),the firm has arranged $9.5 million in financing for two separate projects. Thomas Grzebinski II, VP, was responsible for negotiating and arranging both loans through regional lending sources.
The first project was comprised of a $7 million construction/mini permanent loan with a 125,000 s/f four-story former industrial property located at 212 West Division St. in the downtown Syracuse up-and-coming Franklin Sq. neighborhood whereby the owner is transforming the project into 83 market rate apartments with first floor office/warehouse space. The borrowing entity is Clinton St. Soma Project LLC and the project is known as Franklin View Terrace.
The second project was comprised of a $2.5 million permanent loan with a 12,147 s/f single-story retail center located on Ridge Rd. in Webster. The property is newly-constructed and anchored by Fairport Savings Bank and Five Guys Burgers. The loan was comprised of a 10-year term and a 20-year amortization. The borrowing entity is Webster Ridge LLC and the project is known as Webster Crossing.
RHG is also a member of Strategic Alliance Mortgage, LLC (SAM). SAM, established in 1998, now includes 20 independent commercial banking firms consisting of 36 offices throughout the U.S. SAM members collaborate to present the most advantageous real estate capital markets execution to their clients. Members utilize a proprietary web-based system to communicate and exchange cutting-edge trends from across the country to provide their members with optimal real estate financing solutions. Collectively, SAM members originated over $57 billion of commercial real estate capital transactions since 2004 and currently service $31 billion. In an ever-changing market, SAM members offer the best lender relationships which lead to successful commercial solutions.
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