Deerwood Real Estate Capital brokers $43.4 million in financing

Deerwood Real Estate Capital recently brokerd financing totaling $43.4 million. The transactions include: Deerwood managing partner Abe Katz and Deerwood broker Meyer Perlman were involved with the sale of a $36.5 million non-performing mortgage note. The mortgage is secured by land in New York City. Katz negotiated a loan in the amount of $2.3 million for the purchase of a mixed-use property located on 8th Ave. The property, which was delivered to the buyer vacant, will be renovated and then leased. The loan featured a five-year term and is non-recourse. According to Katz, "While the commercial real estate financing markets remain challenging we have found ways to close deals by creating unique structures which accommodate both the lender and the borrower at the same time." Deerwood managing partner David Rosenberg also arranged a loan on a 61,111 s/f office/industrial building located in Monsey, N.Y. The new $4.3 million loan refinanced an existing CMBS loan and features a five-year term with 30-year amortization. Deerwood also recently arranged $4.3 million in financing for a multifamily property in Englewood, N.J. The newly renovated 40-unit garden style apartment complex is subsidized through HUD's Housing Assistance Payment program. Katz secured financing through a local savings bank featuring a five-year fixed rate term with a five-year extension option. The loan is non-recourse, has 30-year amortization and a flexible prepayment penalty. "We continue to see an increase in volume on all fronts," said Rosenberg. "Certain types of loans are actually beginning to trade and loan origination volume has picked up." 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.