M. Robert Goldman arranges financing for 10 retail properties totaling $63 million

M. Robert Goldman & Co., Inc. has arranged $63 million in financing covering ten transactions in Queens, Nassau & Suffolk Counties. The loans were placed with numerous lenders with varying sources of capital, evidence of a broad based return of capital to the real estate sector, particularly retail. "Since the onset of the recession nearly three years ago, the retail sector has been the subject of a disproportionate share of negative publicity," said Jonathan Goldman, executive vice president. "Notwithstanding, we have only had one small retail default in our $1.5 billion servicing portfolio and have been able to secure retail loans with terms from 5 to 20 years with numerous lenders." Most recently the company closed a $4.5 million refinance with Nationwide Life Insurance Co. for the 21,716 s/f retail property at 535 Montauk Hwy., tenanted by Bethpage Federal Credit Union and PetSmart. In addition, a $2 million loan on the 5,332 s/f building at 2717 Rte. 112 in Medford tenanted by Starbucks & Quiznos was placed with Oritani Savings Bank. MRG also closed two credit transactions on properties tenanted by Walgreens and TD Bank. Southern Farm Bureau Life Insurance Co. provided $2.5 million in debt on the 13,900 s/f Walgreens at 1580 Rte. 112 in Medford, while QuadCapital provided a $4.67 million loan covering the 3,500 s/f TD Bank branch at 290 Merrick Rd., Lynbrook. Bethpage Federal Credit Union provided a total of $8.7 million financing for the 44,000 s/f Hong Kong supermarket at 37-11 Main St., Flushing, Queens as well as the 25,960 s/f CVS/Capital One Bank center in Kings Park. Genworth Financial provided $14 million acquisition financing for the 89,000 s/f Waldbaum's anchored shopping center in Garden City Park, while Aviva Investors provided a $10.5 million loan to refinance the 96,482 s/f Hempstead Village Commons shopping Center anchored by PepBoys, Staples, and A.J. Wright. AIG provided an additional $2 million in financing behind their existing $12 million debt on the 37,444 s/f East Hills Commons shopping center at Glen Cove Rd. and the Long Island Expressway to facilitate the renovations at the property. Finally, Amalgamated Bank provided a $2.1 million loan on the recently constructed retail property at 35 to 45 Merrick Rd., Amityville. MRG, founded in 1932, is the largest independent mortgage banking firm in the New York Metropolitan Area with a $1.5 billion servicing portfolio and represents eighteen life insurance companies as loan correspondent. MRG is a member of Strategic Alliance Mortgage, LLC, whose 23 member firms throughout the United States originated over $70 billion in debt over the past decade and service nearly $40 billion in mortgages.