Pittsburg, PA Time Equities, Inc. has closed eight loans and totaling $138.69 million. The deals include the following: • A $67.5 million first mortgage loan was closed for a class A office building consisting of 16 floors with 290,501 rentable s/f plus a 2,300 car garage. The three mixed-use complex is situated on 4.3 acres of land in downtown Pittsburgh. It is known to be one of the largest parking garages located next door to the Mellon Arena, home of the Pittsburgh Penguins. The term of the loan is 10 years with the rate of 3.71% • Two loans were closed totaling $5.35 million for another long-time client. A first mortgage loan secured by unsold co-op shares located in Bronx was structured with a 15 year term at 3.25% fixed for 5 years. A first mortgage loan for an existing mixed use property was closed in Central Business district of Mt. Vernon. The term is 15 years with an interest rate of 3.125% fixed for the first five years. Mt. Vernon and Bronx properties were closed with the same lender. • An acquisition and lease-up loan was closed for $20.8 million.  The purpose of the loan is to facilitate the acquisition of a six-building portfolio comprising of approximately 422,073  s/f of an office space located in Independence and Seven Hills in Cleveland, OH.  The loan offers LIBOR + 245bps and has a term of three years with an option to renew for an additional one year. • A first mortgage loan was closed in the amount of $6.6 million for a retail strip center known as the Central Crossing Business Park in Bordentown, N.J. The land for the Business Park was purchased over a decade ago and is now a multi-phased developed construction of approximately 1.8 million s/f of flex/distribution space. The newly constructed building is 100% occupied. • A $9.45 million first mortgage loan was structured for a Community Shopping Center located in Virginia Beach, VA. The well-maintained Shopping Center is 100% occupied and a home to major national tenants. The loan offers a rate floor of 3.75% and a 10-year term. • A $990,000 loan closed for a 7,000 s/f retail building in Bel Air, MD. The center offers mix of local national retail tenants that service the local residential community. The interest rate of the loan is 3.5% with a five-year term and an option for additional five-year extension. • A $28 million first leasehold mortgage loan has been structured for the twenty-two story historic mixed use office/commercial building with 313,515 s/f of total rentable space located in the heart of the financial district in Montreal, Quebec. It is known as one of the most architecturally significant and prestigious buildings which was built in 1928 as the headquarters of the Royal Bank of Canada. The term of the loan is seven years with 198bps over the seven-year Canadian Bond. Tags: