Financial Digest

Merchants Capital provides $37m financing for three affordable housing developments

Queens, NY The Manhattan office of mortgage firm Merchants Capital secured $37 million in funding for three supportive housing

Fuld joins Eastern Union as VP of underwriting

Brooklyn, NY Eastern Union has hired Judah Fuld, Esq., to serve as VP of underwriting for Eastern Equity Advisors. An affiliate of Eastern Union,

GCP Capital Group arranges eight mortgages totaling $95.9 million

New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $95.9 million for the following eight New York City mortgage deals:

Community Preservation Corp. raises over $700 million in capital

New York, NY The Community Preservation Corp. (CPC) has over $700 million in capital available to lend and invest in affordable and workforce housing in N.Y. and the northeast U.S., as it continues to raise

Appel, Schwartz, Kurland, Schwartz and Diaz of AKS refinance $749 million

Manhattan, NY AKS Capital Partners has arranged a $749 million refinancing from Brookfield for Milstein Properties to support the redevelopment of 335 Madison Ave. The debt will be used to enhance the

JLL Capital Markets arranges $350m loan for class A property

Manhattan, NY JLL Capital Markets has arranged a $350 million loan to finance the leasehold position of 1407 Broadway, a 43-story, 1.1 million s/f office building. The group worked on behalf of Shorenstein Properties LLC

Shmuely of Berkadia secures $121 million refinancing of 917-unit multifamily property

Queens, NY Berkadia has secured $120.78 million in financing for 711 Seagirt, a 917-unit high rise multifamily property in Far Rockaway. Director Michael Shmuely of Berkadia’s New York office secured

Time Equities promotes Mitnick to senior vice president

New York, NY Time Equities Inc. (TEI) has promoted Craig Mitnick to the position of senior vice president of finance.

IPG closes $438m recapitalization of 830,000 s/f LIC property

Queens, NY Innovo Property Group (IPG), a real estate investment and operating company founded by Andrew Chung and backed by Nan Fung Group, has closed a $438 million recapitalization of

Sagamore Hill Partners officially launches

New York, NY Sagamore Hill Partners LLC, a real estate investment firm born out of a strategic partnership with the leading independent retail leasing and management company in the region, has launched. Led by partner and CIO Alex Janoff...