Paradigm Commercial closes $56.65 million in loans

According to Paradigm Commercial Real Estate LLC, it has recently completed the closing of $56.65 million in loans, secured by a multifamily portfolio throughout N.Y., N.J., and Pa. The portfolio consists of 16 buildings, totaling 890 units, some of which contain retail stores. In that the properties were located in varying demographics, and in an effort to maximize the benefit to each respective property, the loans were placed with several different lenders; Community Banks, Commercial Banks, and Agency lenders. The terms were 5, 7, and 10 years, depending on property; all amortization schedules were 30 years.