6D — November 19 - December 23, 2021 — Financial Digest — Lenders Directory — M id A tlantic Real Estate Journal
www.marej.com
L enders D irectory
Robert Slowikowski, Blue Foundry Bank Blue Foundry Bank team offers years of lending experience and the ability to close loans quickly
with our expansive lending solutions has allowed us to separate ourselves from the competition when it comes to commercial lending. Name some of your most unique qualities/reasons why someone should do business with your finan - cial institution? We pride ourselves in our roll-up-our-sleeves commit- ment to our customers and finding a solution tailored to their needs. We provide our “Blue Is Here For You” personal-touch service to our customers and we are able to quickly close on CRE transactions. MAREJ
your largest growth area is and why? Over the next several years we see the largest area of growth for us in the New Jersey Multi-family and In- dustrial sector. Both sectors have a large demand for the product, especially Indus- trial, as consumer behav- ior shifts to an ecommerce mindset. What separates you from the competition? At Blue Foundry Bank, our team’s years of lending experience, knowledge of our local communities, competi- tive pricing, and the ability to close loans quickly coupled
Robert Slowikowski VP CRE Team Leader Blue Foundry Bank Headquarters: Rutherford, NJ Years as CRE specialist : 4 Years Years with company/firm: 2 Years Years in field: 20+ Years
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rea of Interest: Within commercial real estate loans our
areas of interest are multi- family housing, mixed-use buildings, retail centers, of- fices, and industrial centers. We also have strong exper- tise in construction loans. Who is your target mar- ket? The NewJersey, NewYork, Eastern PA and Connecticut market. What is your most note- WINCHESTER , VA — Berkadia announced the fi- nancing secured for the second phase development of Meadow Branch, a garden-style multi - family property in Winchester, Virginia. Senior managing direc - tor David Blake , senior director Stephen Murden and director AmyGay of Berkadia Richmond secured the $35.4 million in con - struction financing on behalf of the borrower, Denstock, LLC . The deal closed on October 20. The 40-year HUD 221(d)(4) loan features a 2.8 percent in - terest rate and an 85 percent loan-to-cost ratio. “This Phase 2 development will add 135 units to the hugely successful Phase 1 develop - ment that was also financed using the HUD 221(d)(4) pro - gram in 2017,” said Gay. “Simi - lar to Phase 1, Phase 2 will have elevatored buildings, which is a unique offering in this market and helps this product stand out amongst oth-
team was especially proud of because of the amount of collaboration and effort that went into a project of this size. Where do you think
worthy transaction or project this year? Our team closed on a port- folio of 39 separate Student Housing Buildings in PA. This was a project that our
Berkadia secures over $35M in construction financing feature one-, two- and three- bedroom floor plans with in-unit washers and dryers and stain- less steel appliances. MAREJ er properties in the market.” Located at 424 Ridgewood Lane, the second phase devel- opment of Meadow Branch will
Houlihan-Parnes arranges 1st mortgage financing
The 10-year, fixed-rate loan is structured, followed by 30-years of amortization. The transaction was led by Casale. M&T Realty Capital Cor- poration has been a Fannie Mae-approved Delegated Underwriting and Servicing (DUS) lender since 1989. M&T Realty Capital Cor- poration has arranged a $2.4 million life insurance com- pany loan of an apartment complex located outside of Buffalo, NY. A self-amortizing 15-yr HARRISON, NY — Jer- emiah A. Houlihan and James Coleman of Hou- lihan-Parnes Properties have arranged 1st mortgage financing in the amount of $5,050,000 for a six-story elevator apartment building containing 35 apartments and 4 ground floor stores in Har - rison, NY. The property is located at the corner of Harrison Avenue & Calvert St., steps from the Metro-North Train Station. The Loan was placed with a NY Commercial Bank for a five-year term at a 3.25% inter - est rate with a 24-month inter -
David Blake
Stephen Murden
Amy Gay
Meadow Branch
est only component on a 30-yr amortization schedule with a 5-year option to renew. MAREJ
Meadow Branch
BALTIMORE, MD — M&T Realty Capital Cor- poration closed a $9.5 mil - M&T Realty Capital Corporation provides $9.5M in financing The transaction was led by managing director Zach Ca- sale of M&T Realty Capital Corporation’s Buffalo, NY office.
nates and services loans for apartment properties, includ- ing market-rate properties, seniors housing, assisted living, student housing, coop- eratives, and certain afford- able housing projects. M&T Realty Capital Cor- poration is a wholly-owned subsidiary of M&T Bank, Member FDIC. M&T Realty Capital Cor- poration closed a $2.72 mil - lion Fannie Mae loan for the refinance of a 23 unit mul - tifamily property located in Buffalo, NY.
loan was secured along with a low 3% interest rate. The transaction was led Casale. “M&T RCC was able to place this loan with one of our correspondent life insur- ance companies and provide a long-term, fixed rate mort - gage to help with recapturing of equity while buying out a long-time partner out, too. The ability to lock their inter- est rate at application and secure a 15-yr self-amortizing loan were highlights to our borrower.” MAREJ
lion Freddie Mac Optigo conventional loan for the r e f i n a n c e of a 63-unit multifamily property lo- cated in Hor- nell, NY. A t 7 5 %
M&T Realty Capital Corpo- ration is a Freddie Mac Op - tigo Lender for Conventional and Seniors Housing Loans, and is authorized to originate multifamily loans to be sold to Freddie Mac and service multifamily loans on behalf of Freddie Mac. Under the Freddie Mac Optigo program, M&T Realty Capital Corporation origi-
Zach Casale
LTV, the 10-year, fixed-rate loan is structured, followed by 30-years of amortization.
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