8A —December 23, 2022 - January 19, 2023 — Financial Digest — M id A tlantic Real Estate Journal
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F inancial D igest
HITE PLAINS, NY — Robert Ranieri , senior vice presi- Robert Ranieri arranges $11 million refinance Northmarq completes $11M refinance of the Gilbert Manor W
Company adds Gregoriadis, Lavery & Mueller Redgate expands senior leadership team
LONGVIEW, TX — Greysteel , a national com- mercial real estate investment services firm, has arranged Joint Venture Equity for Stor 4 Now, a self-storage prop- erty in Longview. On behalf of Starr Equity , Greysteel was able to secure joint-venture fi - nancing from Sundance Bay , an institutional real estate investment firm. This transaction represents Starr’s second execution with Sundance, with their first be - ing a two-property self-storage portfolio in Texas acquired together in August. The rela- tionship will enable Starr, the general partner, to continue to expand its self-storage foot- print. Greysteel’s Landon Cib- ulka represented Starr Equity and led the transactions. The other party, Karr Cunningham Self Storage, was represented by Marcus & Millichap. Ter- rydale Capital sourced the debt for the project. dent/managing director of Northmarq’s White Plains- based regional office, arranged the $11 million refinance of the Gilbert Manor Apartments. The multifamily property is located at 269-297 Liberty St. and 258 Main St. in Little Fer- ry, NJ. The transaction was structured on a five-year term with two-years interest-only followed by a 30-year amor- tization schedule. Northmarq arranged the permanent-fixed loan for the borrower through a regional bank. Built in the early 1960’s, Gilbert Manor Apartments is a 108-unit garden apartment complex consisting of seven 2-story buildings on approxi- mately 3.39 acres. The prop- erty features spacious one- bedroom units with private entrances, new windows, hard- wood floors, upgraded kitchens and bathrooms, modern laun- dry facilities and ample off- street surface parking as well as easy access to a wide-range of nearby shopping, dining, and recreation options. Gilbert Manor Apartments is situated in the Hackensack/ Teaneck neighborhood, which boasts a rich culture with a history prior to the American
Laura Gregoriadis
Sharon Lavery
Brian Mueller
place excellence. She will also be responsible for expanding the company’s professional de- velopment and leadership offer- ings and advancing Redgate’s continued commitment to di- versity, equity, and inclusion. Lavery joins Redgate after serving as director of HR at Central Rock Gym and Creative Office Pavilion, where she was responsible for building and leading all HR functions. “The foundation of Redgate’s success has always been its people,” said Lavery. “My role at Redgate will meet this ex- citing moment of growth at the company and cultivate an excellent workplace culture that allows us to recruit and retain top talent and continue delivering excellent results for our clients and investors.” With the addition of Grego- riadis and Lavery, Redgate’s team is now 35% women, a reflection of the company’s commitment to surpassing industry standards and chal- lenging the dynamic of women in commercial real estate. Mueller joins Redgate as an experienced real estate asset management executive with a proven track record of success in maximizing investor re- turns and profit across all CRE verticals. As VP, Mueller will drive Redgate’s asset perfor- mance strategy and oversee the company’s diverse investment portfolio of ground-up develop- ments, value-add acquisitions and stabilized assets. Prior to joining Redgate, Mueller was an asset manager at The Baupost Group, one of the largest value- oriented investment manage- ment firms where he managed an extensive nationwide portfo- lio of multifamily, condo, land development, hospitality, and vertical construction projects. “The Redgate team is not afraid to challenge the status quo in a way that drives last- ing value for its real estate assets,” said Mueller. “I look forward to building on the company’s commitment to in- novation in a way that further maximizes the ROI of our portfolio.” MAREJ
MID-ATLANTIC — Redgate , a strategic real es- tate advisory and investment firm, announced the expansion of its senior leadership team with the hiring of Laura Gregoriadis , who will serve as the company’s first CFO, Sharon Lavery , Redgate’s first senior director of Human Resources And Culture, and Brian Mueller , who joins the company as VP of Asset Management. The strategic expansion of Redgate’s se- nior leadership team demon- strates Redgate’s ambitious growth vision as the company continues to expand rapidly throughout New England, the Mid-Atlantic and Raleigh- Durham markets. As CFO, Gregoriadis will lead Redgate’s financial man - agement capabilities. She will oversee all aspects of the com- pany’s financial operations and growth, including financing, accounting, treasury, tax, and compliance functions. Grego- riadis brings over 15 years of executive leadership experience in the financial real estate sec - tor, with particular expertise in profitability and growth strategies, financial forecast - ing and risk and compliance management. She joins Redgate after many years of leading the financial real estate practice at PKF O’Connor Davies LLP, where she most recently served as partner. “Redgate has a strong vision behind its growth strategy; it’s what made joining this team so attractive to me,” said Laura Gregoriadis. “Their proven- track record and the scale of success is exciting as I look forward to further expanding the Redgate platform.” As senior director of HR and Culture, Lavery will lead all hu- man resources programs, sys- tems, and policies at Redgate. Leveraging her expertise in people strategies, Lavery will implement the company’s stra- tegic growth priorities with a particular focus on recruit- ing, attracting, and retaining diverse talent and fostering a culture of inclusivity and work-
Gilbert Manor Apartments
Revolution. Within one mile, the apartment complex has 3 shopping centers, Liberty Plaza, Washington Square Mini Mall, and Little Ferry Plaza. In addition, Gilbert Manor has five parks within 11.8 miles, including Overpeck County Park, Teaneck Creek Conservancy, and Flat Rock Brook Nature Center. “This refinance of an exist - ing Freddie Mac Multifamily loan was possible with North- marq’s Defeasance Services handling the defeasance,” said Ranieri. “The borrower was looking for prepay flexibility as well as interest only and collateral release provisions.” Northmarq is a full-service capital markets resource for
commercial real estate inves- tors, offering seamless col- laboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, en - abling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transac- tion volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes. MAREJ
Greysteel secures $2.7 MM LP Equity for a property self-storage in Longview, TX
Stor 4 Now
The Longview area is in high demand for storage space. The additional climate-controlled units that the sponsor builds will bring a much-needed product to the area as well as additional uncovered parking spaces. Further, the sponsor has hired Cubesmart to over- see property management, the company’s first branded
location in Longview. Starr Equity is led by Noah Starr , a real estate investor based in Austin. Recently, Marina Marti- nez joined as co-founder, and together, they are seek- ing to acquire an additional 750,000 s/f of projects in Texas and other Sunbelt states. MAREJ
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