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Brokerage
Posted: March 19, 2019
Juniper Capital Group arranges four loans totaling $26.8 million
New York, NY Juniper Capital Group arranged four loans totaling $26.8 million across four states.
• A $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468 s/f, big-box retail shopping center in Troy, Mich.
The borrower was Avram Weissman of the Weissman Corp. and the lender was C3 Capital Partners. The term of the non-recourse loan was 24 months at libor + 400. Juniper Capital Group’s Nate Lowy negotiated the deal in under 30 days with a 75% LTV bridge loan to allow the borrower to bring the property to stabilization.
Other recent originations include:
• Classic American, a 150-unit rental garden apartment style multifamily complex in Syracuse, New York received a $6 million cash-out refinance 10-year loan that features a two-year interest-only period.
“The Syracuse market is seen as a very strong secondary market due to the university’s expansion that caused a small housing shortage,” added Juniper Capital’s Nate Lowy, who also negotiated the deal on behalf of the borrower, Abraham Motechin of Vintage Management and the lender, Hunt Mortgage Group.
• A $5.3 million (FNMA loan) for “The Regency at Raleigh,” a 200-unit multifamily building in Memphis, Tenn.
The ten-year loan, that closed in under 30 days as the borrowers’ loan matured, recently reached stabilization. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and undisclosed borrower.
• A $5 million Freddie Mac loan for a 135-unit multifamily portfolio of garden style townhomes in Hartford, CT.
The loan features a three year interest only period with a flexible prepay structure. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and the undisclosed borrower. The properties utilized Freddie’s link loan program to achieve aggressive terms.
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