F inancial D igest
Real Estate Journal — December 14 - 27, 2018 — 17A
www.marejournal.com
M id A tlantic
Mann and Zamoyta secure $8.7 million in refinancing for New York Townhomes and On behalf of Wharton Properties, Mann of Progress Capital secures $23 million
N
EWYORK, NY —On behalf of Jeff Sut- ton and Wharton
Properties , Abe Mann of Progress Capital se- c u r e d $ 2 3 million to re- finance 324 West 125th St. Located on a prime
Abe Mann
corner in the Harlemneighbor- hood of Manhattan, the subject property is a newly constructed retail development anchored by CVS and Zwanger Pesiri Radiology. Mann negotiated and se- cured the permanent mortgage with Jeff Schor of Wells Far- go . The non-recourse loan is accompanied by an extremely low interest rate, full term IO and no prepayment penalty. “It’s an honor and a privi- lege to represent Jeff Sutton and his partners in securing financing on such a beautiful
324 West 125th St.
123 East 61st St.
215 Clinton Ave.
retail property. We enjoyed working with Wharton Prop- erties throughout the closing process and we look forward to working together again in the near future.”- Abe Mann The proceeds of the loan will be used to retire the existing debt and provide significant cash-out of vested equity that will be used to fuel a continued expansion of the borrower’s
real estate investment port- folio. In a separate transaction, Abe Mann and Brit Zamoyta of Progress Capital secured $8.7 million to refinance a package of two luxury town- home properties located in New York City. 123 East 61st St. is an 8,500 s/f property located on the Up- per East Side of Manhattan. needs with 29 industrial trailer spaces, 40 exterior loading docks and four drive-ins on location. The site is just off of the New Jersey Tpke. and only one hour’s drive from New York City or Philadelphia. It is located within the Exit 8A sub- market which has grown into one of the most active markets in the state. “We value the opportunity to do business again with this cli- ent and are very impressed by the competitive rate Thrivent was able to offer,” said Wilcox in a prepared statement.
The subject property was in need of construction proceeds for hard and soft costs. Once completed, the property will be for sale as a 6-bedroom luxury townhome with amenities such as an elevator, rooftop deck, movie theater and wine cellar. 215 Clinton Ave. is a 6,000 s/f newly renovated luxury townhome in the desirable neighborhood of Clinton Hill, ROCKVILLE, MD — Hol- liday Fenoglio Fowler, L.P. (HFF) announced the sale and acquisition financing of 5625 Fishers Ln and 12735 Twinbrook Pkwy., a two- building, class A office and lab portfolio totaling 229,905 s/f in Rockville. The HFF team represented the seller, a joint venture between entities affiliated with Wealthcap and JBG SMITH Properties , and procured the buyer. Addition- ally, working on behalf of the new owner, the HFF team ar- ranged acquisition financing for the transaction. Constructed in 2004 as a build-to-suit for the National Institutes of Health (NIH), the two properties house highly specialized lab/office buildouts that are critical to ongoing research needs of the NIH, which occupies the entire facility. The prop- erties are situated in the Montgomery County life sci- ence market, which includes
Brooklyn. The loan was ma- turing and the owner needed replacement financing. Mann and Zamoyta struc- tured the amount and terms which include a 2-year interest only period at a competitive floating rate above Prime. They were able to close the loan without an interest reserve requirement within 4 days of term sheet signing. the National Institute of Allergy and Infectious Dis- eases (NIAID) headquarters, a one-million-square-foot U.S. Department of Health and Human Services (HHS) installation, the U.S. Phar- macopedia headquarters and the NIH headquarters. The Johns Hopkins Montgom- ery County campus and the University of Maryland In- stitute for Bioscience and Biotechnology Research are located nearby. Additionally, 5625 Fishers Lane and 12735 Twinbrook Parkway offer walkable Metro access pro- viding service to downtown and the entire Washington, D.C. metropolitan area. The HFF investment advi- sory team representing the seller included Jim Meisel, Andrew Weir, Matt Nich- olson and David Baker . HFF’s debt placement team representing the borrower consisted of Kevin MacKen- zie, Cary Abod, Brian Torp and Jay Graham .
G.S. Wilcox & Co. finances on $17.6 million warehouse
HFF announces sale & acquisition financing for lab portfolio in MD
for a notable repeat client through Thrivent Financial , one of the firm’s correspondent
MIDDLESEX COUNTY, NJ — G.S. Wilcox & Co. has completed $17.6 million in
life insurance c o m p a n y lenders. The 28.31 acre site con- tains a one- story indus- trial building with 340,900 rentable s/f of
financing for a warehouse building in M i d d l e s e x County. The f i n a n c i n g was secured by Gretchen Wilcox , pres- ident, and Al-
Gretchen Wilcox Albert Raymond
bert Raymond , principal, with a 15 year term and 20 year amortization at a very competi- tive rate. The deal was financed CHEVY CHASE, MD — FCP has named Liz Koteles as vice president for com- mercial investments, a new position that will provide a dedicated professional to source and execute FCP’s commercial investments and developments throughout the Southeast. Koteles will be use development in Atlanta, Forty540 and The Dillon in the Raleigh/Triangle region and Sylvan Supply, an adap- tive reuse project in Nash- ville, TN which is also the company’s initial investment through their recently an- nounced $755 million Fund IV. FCP names Koteles as VP for Commercial Investments space, of which approximately 17,000 s/f is office space. The warehouse can accommodate substantial transportation based in Atlanta, GA, launch- ing a fourth regional office from which she will direct the company’s commercial ac- tivities in Atlanta, Nashville, Charlotte, Raleigh, Tampa and Orlando. FCP’s com- mercial properties in these markets currently include the Stockyards adaptive re-
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