16A — October 16 - 29, 2015 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest Commercial real estate brokerage firm teams up with bank to streamline financing ERG Property Advisors announces alliance with American Community Bank
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which is looking to grow, by providing them with a direct line to ERG’s experienced team of property and capi- tal advisors,” said Andrew Walsh , senior director of finance at ERG. “Thanks to this unprecedented alliance, we’re also enhancing product and service offerings for our clients, who come back to us time and time again because they know we can complete transactions quickly and ef- fectively.” ERG and American Com- munity Bank are already seeing their businesses grow
expertise to help real estate buyers and sellers secure the best possible transactions to accelerate the growth of their businesses,” said Anthony Capobianco , president of American Community Bank. “New York City and Long Island area businesses will benefit from working with our collaborative teams of
highly seasoned and relation- ship-oriented professionals.” Amer i can Communi ty Bank is headquartered in Nassau County and primar- ily works with clients in the Long Island area. The bank has four branches in Long Island, in Commack, East Northport, Glen Cove and Mineola. n
in light of this new relation- ship. ERG has increased its team of property and capital advisors by about 15% to work with new commer- cial real estate transactions. American Community Bank introduced the bank’s offer- ings and services to a new set of prospective clients and potential partners at a kick- off celebration earlier this summer with ERG. “We’re thrilled to launch this joint venture with ERG Property Advisors. Both of our companies offer person- alized service and financial
EW YORK, NY — ERG Property Ad- visors , a full-service
commercial real estate bro- kerage firm based inManhat- tan, has officially announced a new strategic alliance with American Community Bank , based in Long Island. This newly-formed relation- ship will streamline the fi- nancing process for commer- cial real estate owners and buyers in the greater metro New York region. “We’re happy to support this locally owned and op- erated Long Island bank,
The Stro Companies completes over $50m in financings in the summer of ‘15
RIDGEWOOD, NJ — The Stro Companies announced the completion of over $50 mil-
lion in commercial real estate loans in six transactions. The transactions included acquisi- tion financing for 34 Fairfield Place and 22 Law Dr. Both in Fairfield and both purchased vacant. “Stro’s record of suc- cess, repositioning, leasing and managing industrial prop- erties made these loans very attractive to lenders” said Michael Lachs , director of finance & investments. Four of the loans were properties the company refinanced. “We have great performing properties that are genera- tional holds for us, so taking advantage of favorable long - term rates made a lot of sense” said StevenMillstein , president. Three of the loans were refinanced with Mutual of Omaha, a new lending re- lationship for The Stro Com- panies. The largest loan was 174 Delawanna Ave. in Clifton, a 220,000 s/f, state-of-the-art 50% refrigerated distribution center, refinanced with a New Jersey based bank. 174 Dela- wanna Ave. will be available for lease in late 2016. Founded in 1994 by Steven Millstein, The Stro Companies (“Stro”) maintains a portfolio of over 1.5 million s/f of invest- ments in industrial, flex indus- trial, office and multi-family properties. Stro actively pur- sues new “Value-Add” small to medium size industrial real estate acquisitions in the Northern New Jersey Market. The company also invests in commercial real estate op- portunities throughout the United States. n 174 Delawanna Ave.; Clifton, NJ
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