16A — July 31 - August 13, 2015 — M id A tlantic
Real Estate Journal
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M id A tlantic R eal E state J ournal Proceeds topayoff existingmortgage&secureafirst lien Kennedy Funding Financial closes $3.41 million loan
Recently Closed Loans
F
builder Foremost Industries, Inc. The lender was Foremost Realty Lender, LLC, and the funding will be serviced by KFF. “The borrower recently ac- quired the company owning the collateral for $5.5 million, paying $2.9 million in cash to the seller and assuming the existing Susquehanna First Mortgage of $2.6 million,” said Wolfer. “Our loan will pay off that mortgage, and the borrower also pledged a 6,700 s/f office building in Greencastle, PA. “This type of asset, espe- cially when owner-occupied, is challenging and difficult ry, 18-unit apartment building, which sold for $2.35 million, is centrally situated in the Watc- hung Putnam neighborhood. The team of Triarsi, Zwei- bel and senior vice president Nicholas Nicolaou also ar- ranged the $2.07 million trade of 39 units at 607-611 Madison Ave., between W. 6th and W. 7th Streets. The four-story Van Wyck Brooks district property is within walking distance of local shopping, restaurants, schools, bus stops and parks.
to get loans placed for,” said Wolfer. “However, based on the strength of the borrower and the value of the collateral, we were able to get the loan closed.” The collateral consists of a 260,000 s/f, three-building industrial property on 52.68 acres at 6100 Buchanan Trail West in Montgomery and Peters Townships, Franklin County. Constructed in 2005, the property includes a com- bination of lumber storage, a modular plant utilized for the assemblage of components for modular homes, and an office component of approximately 4,500 s/f. n Gebroe-Hammer represented the seller, Core Partners 2012 LLC, and the unnamed buyer in the transaction. Additionally, the Triarsi/ Zweibel team closed two sepa- rate sales involving 37 units at 703-713 Plainfield Ave. and 12 units at 204 E. 9th St., sold for $2.1 million and $1.2 million, respectively. Triarsi repre- sented the seller, 703 Plainfield LLC, in the disposition of these two properties as well as the Kensington Ave.property. n
RANKLIN COUNTY, PA — Kennedy Fund- ing Financial LLC
(KFF) has c omp l e t e d a $3.41 mil- lion loan se- cured by a multi-build- ing indus - trial facility in Franklin County, PA,
$8,100,000 $6,650,000 Non-Recourse Cash Out Office Refinance/Construction Loan Retail Center Office Refinance Interest Only Acquisition/Redevelopment Sharon Hill, PA West Chester, PA Philadelphia, PA 75% LTV, 10/30, 4.78% Non-Recourse 75% LTV, 5/20, 200 bps over LIBOR 85% LTC, 78.5% LTV 170 bps over LIBOR $23,900,000
Real Property Capital is a Philadelphia based full service commercial mortgage banking firm with a regional focus and national capabilities. Our business model emphasizes client satisfaction through a high-touch, analytical approach that distinguishes us from the competition. Learn more about our distinct approach and proven track record of success at www.realpropertycapital.com.
Kevin Wolfer
announced Kevin Wolfer, CEO of the Englewood Cliffs, NJ-based direct private lend- er. The two-year, interest only-loan was secured by Foremost Realty Holdings, LLC, an affiliate of home-
FOR MORE INFORMATION: R. Brenner Green, President 75 East Butler Avenue • Ambler, PA 19002 • 610-456-9644 • bgreen@realpropertycapital.com
Central NJ multi-family sales pick up pace with four trades arranged by Gebroe-Hammer
STRUCTURAL ENGINEERS
PLAINFIELD, NJ — Cen- tral New Jersey’s multi-family trading pace is quickening at the mid-year mark, with four transactions involving a total of 106 units in Plainfield recently arranged by Gebroe-Hammer Associates . The properties were located throughout the Union County city. At 701-711 Kensington Ave., the brokerage team of Gehane Triarsi and Adam Zweibel represented the seller and pro- cured the buyer. The three-sto-
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