News:
Brokerage
Posted: January 12, 2015
Pisanelli of U.S. Realty arranges $30.35 million in hospitality loans
The Atlantic Northeast office of U.S. Realty Capital arranged $97.61 million in construction, bridge & permanent loans for ten hotels across the country. Rob Pisanelli of U.S. Realty Capital negotiated the following transactions totaling $30.35 million:
* $7.7 million permanent loan for a 124-room Candlewood Suites in Syracuse. The property opened in December of 2003.
* $8.15 million permanent loan for a 75-room Holiday Inn Express & Suites in Utica which opened in November of 2012.
* $7.5 million permanent loan for a 94-room Holiday Inn Express & Suites in Syracuse. The property opened in May of 2007.
* $7 million permanent loan for a 79-room Fairfield Inn & Suites in Horseheads. The property opened in April of 2013.
All New York loans were non-recourse, sized at 70% loan-to-value with 10-year fixed interest rates under 5%.
Tags:
Brokerage
MORE FROM Brokerage
Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence
New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
Quick Hits
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
