Mid Atlantic Real Estate Journal — April 11 - 24, 2014 — 7A


Marc Tropp and Eli Breiner close a series of deals Eastern Union closes over a quarter billion during the last three days of March

T hree business days. Over $250 mi l l i on closed. That’s how E a s t e r n U n i o n capped off a m o n t h which also saw $461 million in new deals under ap- p l i c a t i o n and 400 new loan submis- Ira Zlotowitz

mortgages totaling $32,370,000 on five retail properties with a combined 75,160 s/f located on Westchester Ave., Grand Concourse, East Burnside Ave. and Morris Ave. in the Bronx, NY. The loans feature rates of 3.63% and five-year terms. Moshe Majeski and Jeffrey Berkes negotiated these trans- actions. Anewmortgage of $5,000,000 was placed by Meridian on a 34-unit, five-story mixed-use building on East 86th St. in New York, NY. The loan fea- tures a rate of 3.38% and a five-year term. This transac- tion was negotiated by Shamir Seidman and Daniel Neiss . Meridian negotiated a new mortgage in the amount of $4,000,000 on a 26-unit, five- story multifamily building on wich, CT. The transaction is a 25- year fully-amortizing, private- placement bond deal to finance the construction of the Center’s garage and the new office building, with a set rate at time of closing that may be lowered in the future. The transaction provides phased funding for the construction to minimize negative arbitrage to the borrower as well as a fee loan to the interest holder. NorthMarq arranged financing for the borrower through its re- sions, signalling more surges in the near future. Executives at the firm attribute the activity to bro- kers’ relationships with an expanding network of lend- ers combined with the com- pany’s internal Loan Tracker system keeping an influx of mortgage data accessible and organized. “We’re ecstatic with the growth,” said company presi- dent Ira Zlotowitz . “And

East 21st St. in New York, NY. The loan features a rate of 3.57% and a five-year term. Isaac Filler and Sam Shifer negotiated this transaction. Anewmortgage of $2,000,000 was placed by Meridian on an 83-unit, six-story multifamily building on University Ave. in the Bronx, NY. The loan features a rate of 3.25% and a five-year term. This transac- tion was negotiated by Judah Hammer and Daniel Neiss. Meridian negotiated a new mortgage in the amount of $1,950,000 on a 28-unit, five- story multifamily building on Andrews Ave. North in the Bronx. The loan features a rate of 3.19% and a five-year term. David Hayum and Moe Rosenblum negotiated this transaction.  even happier we were able to do it all while keeping to our core values and focus serving small to mid-size commercial real estate property owners and encompassing diversity and structure.” True to cause, during these three days, loans closed in six states, 29 were less than $10 million, 10 were purchases and 26 featured fixed inter- est rates between 3.25 and 3.875%.

By way of illustration, se- nior managing director Marc Tropp of the Maryland office closed six deals in that state each under $10 million. Senior managing director Eli Breiner closed a series of deals for 11 buildings in the Bronx on Monday, arrang- ing a total of $33,755,150. In keeping with the theme of creativity, Breiner struc- tured a commitment allowing his client to order another

appraisal anytime after the first year, and borrow on 80 percent of the new valuation. “Everyone’s aggressive right now,” Zlotowitz said. “Rates are still hovering in the mid 3 percent range, clients are positioning them- selves for the long term and they need a firm that can navigate the market like a GPS. We are that GPS complete with a powerful engine.” 

Meridian Capital Group negotiates $50m in financing in NY & NJ

Mark Scott’s CMC arranges $14.27m loan assumption for Carriage Club

EAST ORANGE, NJ — Me- ridian Capital Group, LLC , a leading national commercial

real estate finance and a d v i s o r y f i rm , a n - n o u n c e d the follow- ing transac- tions: Newmort- gages total-

Elliot Treitel

ing $4,655,500 were placed by Meridian on two multifam- ily properties composed of 74 units. The properties are located on Lincoln St. and Prospect St. in East Orange, NJ. The loans feature rates of 2.99% and five-year terms. This transaction was negotiated by Elliot Treitel . Meridian negotiated new NEWYORK, NY – NAIOP ’s Connecticut and suburban NewYork chapter awarded the Connecticut Deal of the Year award to The Bridgeport Hos- pital Park Avenue Campus. The property was financed with a $115 million construc- tion and permanent mortgage placed by NorthMarq Capi- tal ’s Ernest DesRochers , se- nior vice president/managing director and Deanna Polizzo , vice president. The award was presented at the Night of Stars Awards event held in Green-

The Carriage Club

heating up between lenders, all of whomhave lofty targets,” said Mark Scott , founder and president of Commercial Mortgage Capital. “According to the Mortgage Bankers As- sociation, originations of com- mercial and multifamily mort- gages are projected to grow to $300 billion in 2014, a 7% increase from 2013 volumes, while originations of multi- family mortgages are forecast at $116 billion in 2014.” Located in the WesternMor- ris County submarket, the seven-acre community boasts a mix of one- and two-bedroom units that range in size from 790 s/f to 1,030 s/f, and a generous amenity package, including a clubhouse, indoor heated pool, fitness center, bil- liard room, library and putting green. 

MOUNTARLINGTON, NJ — Mark Scott’s Commercial Mortgage Capital (CMC) , a leader in real estate finance that arranges permanent, con- struction and mezzanine loans for a wide range of commercial properties including multifam- ily, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut, announced that it has arranged a $14.27-million loan assumption for a 80,355 s/f active adult community located at 1 Hillside Dr. in Mount Arlington. Landmark Companies LLC acquired the 105-unit Carriage Club from Pantzer Properties and as part of the sale, the buyer assumed the Freddie Mac loan. “The market is currently in full swing and competition is

NorthMarq Capital transaction wins NAIOP Conn. and Suburban NY Chapter Connecticut Deal of the Year Award

lationship with a CTL Lender. The 120,000 s/f class-A fa- cility, located at 5520 Park Avenue, Trumbull, Conn. will contain a three-story state-of- the-art outpatient facility.  Bridgeport Hospital

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