Manhattan, NY Northwind Group, a real estate private equity firm that invests primarily in debt instruments through its discretionary closed-ended debt funds, has closed a $45 million condo inventory loan for a 120-unit condominium building located in the Upper West Side at 175 West 95th St. The borrower is a joint venture between Meadow Partners, a vertically integrated private real estate investment firm based in New York and London, and Glacier Equities, a vertically integrated investment platform focused on acquiring residential assets across New York City.
Northwind closed on the loan quickly and efficiently, providing flexible terms, which enabled the time and resilience needed to execute their business plan.
“We are thrilled to be able to provide this loan to high-quality sponsors such as Meadow Partners and Glacier Equities in this off-market transaction sourced in great collaboration by our team. We believe in the long-term success and resiliency of the NYC residential market and continue to deploy capital to properties and borrowers that meet our underwriting criteria,” said Ran Eliasaf, founder and managing partner of Northwind Group.
“Northwind was able to structure a flexible loan at an attractive basis with additional future funding of project costs. We look forward to continuing to unlock the value of this asset and to a successful execution of the business plan,” said Myles Horn, managing partner of Glacier Equities.
Despite a volatile capital markets environment, Northwind remains committed to lending in NYC and is a long-term believer in the city, actively looking to lend to quality borrowers in strong residential markets. Northwind is equipped to provide flexible financing solutions from its three discretionary debt funds under management. Northwind’s debt funds have originated 35 loans totaling over $1 billion in NYC over the past 18 months.
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