Bensalem, PA — Adler Realty Investments has purchased Bensalem Crossing, a 67,215 s/f retail property in Bensalem, for $11.5 million. Nationwide Life Insurance Co. originated a $7.1 million acquisition loan for the purchase. JLL Capital Markets represented the seller, a private investor, and secured the financing for the buyer. Read More #Retail #loan #finance
Woodmere, NY — Jim Houlihan, Bryan Houlihan, and Christie Houlihan of Houlihan-Parnes Realtors, LLC to announced the placement of a construction loan in the amount of $10 million on the Five Towns Shopping Center located at 253-01 Rockaway Blvd., Woodmere.
Read More #loan #Retail #CRE
VIRGINIA BEACH, VA — Greystone, a real estate lending, investment and advisory company, announced that it has provided $33.25 million in FHA-insured financing for the construction of The Choices at Holland Windsor, a multifamily development project in Virginia Beach. The loan was originated by Donny Rosenberg, and is Greystone’s first new construction transaction to utilize HUD’s 2016 MAP Guide standards for a lower Mortgage Insurance Premium (MIP) threshold based on Green an
White Plains, NY — Jeanne Cronin, managing director of Q10 | New York Realty Advisors (Q10NY) announced the closing of four loans totaling $4.515 million on four, free-standing, fast-food/casual dining restaurants located in North Carolina, Georgia and Tennessee. The restaurant chains included an Olive Garden (Darden Restaurants), Arby’s, Wendy’s and Bojangles’. Financing was provided by two different lending sources, a national insurance company and a regional bank. Loan ter
Ocean Township, NJ — Mark Scott's Commercial Mortgage Capital (CMC) recently closed a $26 million, 15 year self-liquidating loan at 3.19%.This loan is secured by 602 multifamily units in Ocean Township.Mark Scott said that “the borrower refinanced to lock in a historically low rate and continue to fund renovations and capital improvements.” #OceanTownship #MarkScottsCommercialMortgageCapital #loan
We recently published a story about a distressed grocery-anchored Shopping Center with over 90,000 s/f available for rent representing over 50% of the total NRA. The road to recovery was paved with multiple obstacles:
•Property was 57% vacant
•$10MM over leveraged CMBS Loan vs. current Property value
•Weak tenant market & $3MM of TI required
•Special Servicer negotiation and document challenges
Working in lockstep, The Henley Group and the borrower were able to get the
Hyattsville, Md — Eastern Union Funding senior managing director Marc Tropp and director Shai Romirowsky arranged a $4 million loan for the refinancing of a single-tenant, net-leased BB&T bank branch in Hyattsville, MD, located at 3400 East-West Highway. Placed with a local bank, the limited non-recourse loan features a 10-year fixed rate of 4 percent and 30-year amortization schedule. #EasternUnion #HyattsvilleMd #loan
MONTVALE, NJ — Deerwood Real Estate Capital, a commercial real estate advisory firm based in Englewood Cliffs, NJ, closed a $9 million non-recourse bridge loan on a 100,000 s/f multi-tenant office building in Montvale.
Despite significant delays and difficulties caused by the seller, Deerwood kept the lender focused on the deal and closed at even more competitive terms than initially agreed upon. The loan was funded at 80% of the purchase price and an additional future-funde