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Brokerage
Posted: August 16, 2016
Brick Capital Partners funds $7.5 million acquisition loan, Edery of Paradigm Commercial RE was broker
Michael Edery, Paradigm Commercial Real Estate LLCManhattan, NY Brick Capital Partners LLC, through an affiliate entity, funded an acquisition loan in the amount of $7.5 million to a private real estate investor. Located in the Murray Hill section of the borough, the collateral is comprised of two five story walk-up apartment buildings with 40 apartments. The loan included the funding for capital improvements to performed within the building as well as apartment renovations slated to have condo-like finishes. The interest only loan is for a 2-year term and was closed within one week of application in order to meet the borrower’s time of the essence closing requirement.
Michael Edery of Paradigm Commercial Real Estate was the broker.
Eric Roth, Friedman Roth Realty Services LLCAccording to Eric Roth, “this transaction is another example of our ability to complete due diligence and close loans on a highly expedited basis.”
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