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Posted: November 14, 2023
Romer Debbas, LLP’s commercial lending group closes four loans totaling $95 million
Queens, NY Romer Debbas, LLP negotiated the following loan closings. The first was for a regional lender for a $27 million mortgage loan with an interest rate swap to refinance an existing loan secured in part by a property operated as a hotel franchise consisting of 166 guest rooms and certain other amenities and facilities located in Queens. This transaction was handled by partners Guy Arad, Esq. and Alison Weisman Roeper, Esq.
The second loan closing was for a regional lender to modify/extend the existing $22.232 million debt to allow the borrower’s redevelopment efforts for a new, ground floor cinema, with residential units above for the collateral property located in Manhattan. This transaction was handled by partners Arad and Weisman Roeper.
The third was for an institutional lender for a $22.5 million loan on a loan line of credit facility to provide leverage in connection with the development of a one-acre site consisting of two side-by-side, six-story buildings with 155 residential units located in Jersey City, N.J. This transaction was handled by partners Arad and Weisman Roeper.
The fourth was for an institutional lender for a $23.272 million loan under a Master Loan Purchase Agreement secured in part by a seven-story multifamily property containing 60-residential units and a one-story commercial building containing 1-ground floor retail space located in Queens. This transaction was handled by partners Arad and Weisman Roeper.
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