News:
Brokerage
Posted: June 22, 2021
Victory Capital arranges two loans totaling $8.25 million
New York, NY Victory Capital, Inc. arranged two loans totaling $8.25 million.
Michael Bivona, managing director, arranged a $6.45 million construction loan with a 12-month term for an interest rate only. A mixed-use building, that is being converted to a six-story residence. When completed the building will be 6,750 s/f with each floor being 1,125 s/f. The building is elevator-served, and includes a two-car garage at ground level. The loan was closed in less than 30 days. The building is located in the Tribeca area, and is close to the Holland Tunnel and Eastside Highway.
Additionally, Bivona closed a $1.8 million refinance loan with a five-year term at 3.85% interest rate for a 6,000 s/f multifamily home four-story building with six residential units and one commercial unit. The building is located in Williamsburg, Brooklyn.
The mission of Victory Capital is to negotiate the best rate, term, and product for its clients with certainty of execution coming from a person with 25+ years of experience in commercial mortgage industry.
Tags:
Brokerage
MORE FROM Brokerage
Dogtopia joins growing tenant mix at Brunswick Shopping Center
North Brunswick, NJ Dogtopia, a leading provider of dog daycare, boarding and spa services, has signed a lease to open a new 5,081 s/f location at Brunswick Shopping Center. The new location further
Quick Hits
 (2).gif)
Columns and Thought Leadership
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron
When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi
Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
.gif)