22C — March 27 - April 9, 2020 — The Best of 2019 — M id A tlantic Real Estate Journal
The TOP MORTGAGE BROKERS of 2019
Ryan Ade JLL
Jon Mikula JLL
Nancy Ferrell NorthMarq
Keith Wells NorthMarq
Jason Smith NorthMarq
The TOP FINANCIAL DEAL of 2019
Progress Capital UES Memorial Sloan Kettering Cancer Center Loan: $130,000,000
Procida Funding & Advisors Historic Belle-Freeman
NorthMarq Baltimore Industrial Portfolio Loan: $129,000,000
Amusement Pier Loan: $10 Million
Institution: Procida Funding & Advisors Financier: Procida Funding & Advisors Location: Seaside Heights, NJ Size: 2.5 acres on land. 5.6 acres when including Ri- parian Rights. To revitalize Seaside Heights, N.J.’s historic pier, Procida provided a $10 million construction loan to The Mabie Group, a repeat client. Procida is known for its vision and capital to get deals done for clients and the communities it serves. Mabie is reconstructing the Belle-Freeman Amusement Pier, which dates back to the 1920s and was destroyed by Superstorm Sandy and a subsequent fire. The new development will transform the currently vacant location into the boardwalk’s pre- mier entertainment destination. Project plans currently feature a 17,500 SF multi-tier bar & restaurant, a pool club, and a proposed concert venue.
Institution: Natixis Financier: Progress Capital Location: 330 East 62nd Street, Manhattan, NY Size: 100,000 SF Brad Domenico arranged a $130,000,000 permanent mortgage for YYY 62nd Street LLC, a joint venture between Joy Construction and Maddd Equities. The loan was secured by a newly constructed 7-story build to suit community facility building at 330 East 62nd Street in Manhattan leased to Me- morial Sloan Kettering on a long-term lease. Domenico negotiated the terms with Natixis featuring 80% LTV with full term I/O and non-recourse. The most impor- tant aspect of the permanent mortgage was the customiza- tion that Natixis provided to accommodate aspects of the single tenant long term lease. “Natixis provided a flawless execution and underwrote the entire capital stack which was important to the Borrower”, said Domenico. Brad Domenico
Size: 2,417,832 SF Joseph Burke, SVP/Senior Managing Direc- tor of NorthMarq’s Baltimore office arranged a $129,000,000 permanent-fixed loan for a portfolio of industrial properties (office warehouse) located in the Baltimore, Maryland MSA. NorthMarq arranged fi - nancing for the borrower through its relationship with a life insurance company.
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