Katz of Deerwood Real Estate Capital secures 10-year $28.8 million loan

Deerwood Real Estate Capital recently secured a loan in the amount of $28.8 million for a mixed-use property located at 488 7th Ave. The building contains 108 residential units and four commercial spaces. Deerwood founding partner Abe Katz negotiated a 10-year term with two years interest-only. The transaction was structured to accommodate commercial income and other specific borrower needs. Katz said, "We were pleased to be able to rate lock and secure credit approval within 20 days of receiving the application." Regarding the current commercial real estate market, Katz said, "We have definitely seen a significant upturn in the market over the past six months and certainly hope to see that trend continue." Deerwood Real Estate Capital is a commercial mortgage brokerage specializing in assisting clients in sourcing debt and equity. Focusing on all commercial real estate asset classes including multifamily, office, retail, industrial, hospitality, and healthcare, the firm stands apart from others in the industry through its commitment to customizing solutions and serving not just as brokers, but as advisors. The partners of Deerwood have a combined track record of successfully closing more than $25 billion in deals.