Financial Digest

Cushman & Wakefield arranges $13.4 million for Jamaica development site

Queens, NY Cushman & Wakefield served as the exclusive advisor to Great Atlantic Construction Inc. in the procurement of $13.4 million in financing for two adjacent development sites, totaling 237,000 buildable s/f, located at 89-25 and 89-26 162nd St. in Jamaica. The bridge loan was provided by Lightstone Capital Markets.

Berkadia acquires Central Park Capital Partners

New York, NY Berkadia has acquired Central Park Capital Partners (CPCP), a boutique real estate capital advisory firm focused on arranging joint venture investments and structured capital from international

Zegen of MRC negotiates $21.4m first mortgage for AB Capstone; To refinance debt and support lease-up stabilization

Queens, NY Madison Realty Capital (MRC) closed a $21.4 million first mortgage loan collateralized by a 78,313 s/f, class A commercial building in the Bellerose neighborhood. AB Capstone, a repeat borrower with MRC, will utilize the funds to refinance previous debt and support final leaseup and stabilization of the asset.

HFF hires Tonnessen as director in New York office

New York, NY Holliday Fenoglio Fowler, L.P. (HFF) has hired Bob Tonnessen as a director focused on debt and equity placement transactions in its New York office.

Steffelin joins George Smith Partners as senior vice president

Manhattan, NY George Smith Partners has established a bi-coastal presence with the opening of an office in Midtown. Industry veteran Ed Steffelin has joined the firm as senior VP on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.

Fletcher, Rogozinski and Klauer of Greystone closes $75 million Fannie Mae loan; Posey and Englund of Greystone collaborated on the structure and spearheaded loan

Manhattan, NY Greystone has closed a $75 million Fannie Mae loan made to an affiliate of Edison Properties, LLC for The Ludlow, a 23-story, 241-unit mixed-income multifamily rental apartment building located on the Lower East Side of Manhattan.

Howe of NCB structures $50.25 million first mortgage and $5 million line of credit for Castle Village Owners Corp.

Manhattan, NY National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the tri-state area, has closed a $50.25 million first mortgage and a $5 million line of credit for Castle Village Owners Corp.

Schwartz, Herzog, Rosenberg and Burns of JLL Capital Markets complete $36.7 million loan for development of 128-130 West 23rd Street

Manhattan, NY JLL Capital Markets experts have completed a $36.7 million loan to finance the development of 128-130 West 23rd Street, a resi...

GCP Capital Group arranges 11 mortgages totaling $102.125 million

New York, NY GCP Capital Group LLC, one of the nation’s most active companies specializing in commercial real estate finance, has arranged mortgage financing totaling of $102.125 million for the following 11 properties:

CPC launches CPC Mortgage Company LLC

New York, NY The Community Preservation Corp. (CPC), a leading nonprofit affordable housing and community revitalization finance company, has launched CPC Mortgage Company LLC, a subsidiary created solely to focus on the company’s rapidly growing agency lending business. CPC Mortgage Company was introduced at a reception on February 11th during the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 (CREF19) in San Diego, California.