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Posted: December 26, 2011
Monte and Grzebinski of Rose Hill Group arrange permanent financing totaling $57.5 million
According to Daniel Monte, president of The Rose Hill Group of WNY LTD (RHG), the firm has recently arranged permanent financing for a number of projects. Monte arranged a $21 million first mortgage on a 255,000 s/f grocery anchored retail center. The lender was one of Rose Hill Group's correspondent life insurance companies. The borrower was a publicly traded real estate investment trust. In addition, Monte originated an $11.5 million first mortgage on a 292-unit class A multifamily property in Central New York. The loan was placed with a national lender under the HUD (a)7 program.
Thomas Grzebinski II, vice president originated a $18.5 million first mortgage on a 410-unit class A
multifamily property. The property has enjoyed occupancy levels that have exceeded 95% for the past 2 years and is professionally managed by a Syracuse firm. The loan was placed with a national lender. In addition, Grzebinski arranged a $6.5 million first mortgage on a 60-unit townhouse project in Rochester. The two year old property has a mix of two and three-bedroom units, all with attached garages. A regional lender provided the financing on a 10 year term and 25 year amortization.
According to Monte, "Our lenders are all actively lending with money to lend on top tier properties throughout the country."
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