Financial Digest

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...

Roeschlaub, Stolly, Scribani and Kramer of NKF arrange $110 million floating-rate loan on behalf of CheerLand Investment Group

Manhattan, NY Global commercial real estate advisory firm Newmark Knight Frank (NKF) has arranged a $110 million floating-rate loan for the refinancing of 287 Park Ave. South on behalf of CheerLand Investment Group.

Zegen of Madison Realty Capital originates $76 million loan

Brooklyn, NY Madison Realty Capital (MRC) provided a $76 million financing package, that included both an MRC senior loan and additional mezzanine financing from Bluestone Group, to fund the acquisition of a 12-story...

Aghravi and Han of JBA Equities complete $56 million construction loan for office reposition

Manhattan, NY According to Jonathan Aghravi of JBA Equities, his team has secured a $56 million construction loan for 541-545 West 21st St., an eight-story vacant warehouse that will be converted into office...

Fletcher, Klauer and Grover of Greystone close $37.05 million loan in Astoria

Queens, NY Greystone has closed a $37.05 million permanent loan made to an affiliate of the Shirian Family’s Lions Group to refinance 14-01 Broadway, a new 82-unit 100% market-rate multifamily rental....

GCP Capital Group arranges four mortgages totaling $43.675 million; Includes $24.65 million for for a multifamily by Greenbaum

New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $43.675 million for the following four New York City mortgage deals: A $24.65 million for a six-story multifamily apartment building containing ....

Grossman joins Chase’s CDB group as head of affordable housing

New York, NY According to Chase, Rachel Grossman joined the community development banking (CDB) group within commercial banking, as head of affordable housing secondary markets. Grossman is based in New York City...