Category: Finance

McCormick and Dzbanek of Ariel Property Advisors negotiate $6.5 million loan for four Brooklyn properties

McCormick and Dzbanek of Ariel Property Advisors negotiate $6.5 million loan for four Brooklyn prope...

May 15, 2018
Brooklyn, NY Ariel Property Advisors’ Capital Services Division has arranged a $6.5 million loan for four properties located in Bedford-Stuyvesant. The division arranged a five-year, 75% loan-to-value (LTV) cash-out refinance loan at a fixed rate of 4%. This allowed the borrower to pay off four existing loans and get additional capital for future investments. Led by Ariel’s Paul McCormick, senior vice president of investment sales and capital services, and Matt Dzbanek, director of capital services, the non-recourse mortgage’s favorable terms were negotiated to meet the needs of the client and their fund.