Victory Capital arranges two loans totaling $8.25 million

New York, NY Victory Capital, Inc. arranged two loans totaling $8.25 million.

Michael Bivona, managing director, arranged a $6.45 million construction loan with a 12-month term for an interest rate only. A mixed-use building, that is being converted to a six-story residence. When completed the building will be 6,750 s/f with each floor being 1,125 s/f. The building is elevator-served, and includes a two-car garage at ground level. The loan was closed in less than 30 days. The building is located in the Tribeca area, and is close to the Holland Tunnel and Eastside Highway.

Additionally, Bivona closed a $1.8 million refinance loan with a five-year term at 3.85% interest rate for a 6,000 s/f multifamily home four-story building with six residential units and one commercial unit. The building is located in Williamsburg, Brooklyn.

The mission of Victory Capital is to negotiate the best rate, term, and product for its clients with certainty of execution coming from a person with 25+ years of experience in commercial mortgage industry.