Financial Digest

Daniel and Sullivan of Knighthead arrange $22 million
for Cayuga to convert warehouse into fitness facility

Brooklyn, NY Knighthead Funding LLC has provided Cayuga Capital Management with $22 million in short-term debt to finance the conversion of a vacant warehouse into a 46,000 s/f retail facility. 

Hakim, Murad, Iadeluca of Meridian arrange
$138.6 million in senior and mezzanine financing

New York, NY Meridian’s Adam Hakim, James Murad and Andrew Iadeluca arranged $138.6 million in financing for the ground-up construction of a condominium property on behalf of Anbau. The construction loan includes $96 million of senior financing...

Campbell of Berkadia completes $19.6 million in financing for 46-unit Brooklyn mid-rise multifamily building

Brooklyn, NY Berkadia has completed $19.6 million in financing for 240 Meeker Ave., a mid-rise multifamily property. Senior managing director Stewart Campbell of Berkadia’s Manhattan office secured the financing on behalf of borrower,

Greystone adds Cockley as deputy chief underwriter for FHA multifamily lending

New York, NY Greystone, a leading commercial real estate lending, investment, and advisory company, announced that Eben H. Cockley has joined as Deputy Chief Underwriter for the FHA lending platform, focusing on market rate multifamily and affordable housing.

Jones Lang LaSalle enters agreement to acquire HFF, Inc.; Gibson to serve as CEO, Capital Markets, Americas

Chicago, IL Jones Lang LaSalle and HFF, Inc. have entered into a definitive agreement under which JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of $2 billion.

Chehade of SoHo Properties led financing efforts for $270 million construction loan for 560 Seventh Ave.; Backed by Related Fund Management, Angelo Gordon and Hana Financial

Manhattan, NY Soho Properties, led by its chairman and CEO Sharif El-Gamal, together with co-developers Chip and Andrew Weiss of Flintlock Construction, closed on $270 million in construction financing for 560 Seventh Ave., the future home of Margaritaville Resort New York City. Located in Times Sq., the 170,000 s/f, 234-key property, is expected to open late 2020.

Naftali Credit Partners closes $65 million construction loan for 74-unit condo project; Betesh of Meridian Capital arranges financing

Queens, NY Naftali Credit Partners, a subsidiary of Naftali Group, has closed on a $65 million construction loan for 107-02 Queens Blvd. The offering for the 10-story, 74-unit condominium project in Forest Hills is the second by Naftali Credit Partners.

Kapahi of HKS Real Estate refinances $105 million loan

Manhattan, NY Simon Baron Development Group has landed a $105 million loan to refinance its 114-unit rental project at 393 West End Ave., a pre-war Upper West Side building. The new loan was provided by M & T Bank and refinances the existing debt of $70 million.

Cotsalas of NorthMarq secures $4.5 million for 20,000 s/f medical office; Refinanced Montefiore Medical Center, Bronx

Bronx, NY Charles Cotsalas, senior vice president/senior director of NorthMarq’s Long Island-based regional office secured the $4.5 million refinance for Montefiore Medical Center, a 20,000 s/f class A medical office property located at 3316 Rochambeau Ave.

Katz of GCP arranges $17.975 million mortgage

Brooklyn, NY Stephen Katz, managing director of GCP Capital Group LLC has arranged a $17.975 million mortgage. The loan was placed for a six-story multifamily apartment building containing 107 units, located in the Gravesend neighborhood.