Category: Finance

New York, NY Berkadia has acquired Central Park Capital Partners (CPCP), a boutique real estate capital advisory firm focused on arranging joint venture investments and structured capital from international

Queens, NY Madison Realty Capital (MRC) closed a $21.4 million first mortgage loan collateralized by a 78,313 s/f, class A commercial building in the Bellerose neighborhood. AB Capstone, a repeat borrower with MRC, will utilize the funds to refinance previous debt and support final leaseup and stabilization of the asset.

New York, NY Holliday Fenoglio Fowler, L.P. (HFF) has hired Bob Tonnessen as a director focused on debt and equity placement transactions in its New York office.

Manhattan, NY George Smith Partners has established a bi-coastal presence with the opening of an office in Midtown. Industry veteran Ed Steffelin has joined the firm as senior VP on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.

Manhattan, NY Greystone has closed a $75 million Fannie Mae loan made to an affiliate of Edison Properties, LLC for The Ludlow, a 23-story, 241-unit mixed-income multifamily rental apartment building located on the Lower East Side of Manhattan.

Manhattan, NY National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the tri-state area, has closed a $50.25 million first mortgage and a $5 million line of credit for Castle Village Owners Corp.

New York, NY GCP Capital Group LLC, one of the nation’s most active companies specializing in commercial real estate finance, has arranged mortgage financing totaling of $102.125 million for the following 11 properties:

New York, NY The Community Preservation Corp. (CPC), a leading nonprofit affordable housing and community revitalization finance company, has launched CPC Mortgage Company LLC, a subsidiary created solely to focus on the company’s rapidly growing agency lending business. CPC Mortgage Company was introduced at a reception on February 11th during the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 (CREF19) in San Diego, California.

Brooklyn, NY CUR Funding LLC, the lending arm of City Urban Realty through an affiliate entity, has funded a $6 million bridge loan secured by a portfolio of mixed-use buildings in Fort Greene and Clinton Hill.

Brooklyn, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $165 million in financing for the development of One Boerum Place, a 21-story, mixed-use condominium development.

Manhattan, NY JLL Capital Markets has arranged a $95 million loan for the acquisition and repositioning of three office buildings — 580 Eighth Ave., 251 West 39th St. and 36 East 20th St. — for East End Capital and a private family office, and also arranged the partnership of the two firms. The loan was provided by LoanCore Capital. Aaron Appel, vice chairman; Jonathan Schwartz, managing director; Mark Fisher, executive vice president; Matt Collins, associate; Patrick Cotter, analyst, led the JLL Capital Markets team handling the debt assignment. The property owner was represented by Doug Heitner, Sara Ho and Isaac Stern at Kasowitz Benson Torres LLP.