6A — January 13 - 26, 2017 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest Pollack &Neuman of Meridian Capital Group arrange financing A10 Capital funds $27 million bridge loan on retail/ multifamily property
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rate bridge loan. It refinanced the borrower’s existing loan of $23.5 million, and provided an additional $2 million in proceeds to the borrower at closing. “This is a valuable property in a prime location, although relatively small by New York City standards. The middle market expertise of A10 Cap- ital, along with our partner- ship with Meridian, helped the borrower realize the full value of 535 Broadway,” said Chris McDaniel , executive vice president at A10 Capital, who structured and closed the loan.
Cary Pollack , manag- ing director at Meridian Capital Group , who ar- ranged the financing together with Judah Neuman , vice president at Meridian Capi- tal Group, added, “We are pleased to have worked with A10 Capital and the Jangana siblings, Jack Jangana, Jenny Haim and Joyce Reiss , of Continental Eq- uities Group on this fi- nancing. A10 understood the borrower’s needs as well as the inherent value of the property and worked with us to deliver Continental a financing structure that that will allow them to maximize the value of this high-quality asset in the heart of SoHo.” A10 Capital Expanding National Footprint and Business The deal closes during a busy fourth quarter for A10 Capital, which is experienc- ing over twice as much clos- ing than its previous two business quarters. “We are extremely pleased that our business continues to expand with new borrower relationships, such as Conti- nental Equities. We believe our business model better serves these borrowers as they look for non-recourse terms and greater certain- ty in an otherwise volatile market,” said Jerry Dunn , CEO of A10 Capital. Dunn said borrowers are attracted to A10’s menu of multiple loan products, commitment to keeping all loans on its balance sheet, and in-house servicing for the life of the loans. “We believe our full- service platform and one-stop business model is unique in the commercial real estate lending industry.” Dunn also attributes the growth in volume to the company’s investment in new senior-level talent and focus on areas of the country with significant growth potential. Over 30 new employees have joined A10 year-to-date, in- cluding new loan originators in key markets and senior executives in Texas, Califor- nia and New Jersey. “Our footprint is expanding and we expect the recent business volume will continue to grow through 2017 and beyond.” A10 is based in Boise and Dallas and have regional of- fices in key markets nation- wide. n
ew York, NY — A10 Capital , one of the nation’s leading
providers of middle-market commercial real estate loans has closed a $27 million bridge loan refinancing a re- tail/ multifamily property on the Broadway retail corridor of SoHo, one of Manhattan’s top shopping destinations. The 5-story, 14,500 s/f prop- erty includes a ground-floor leased to a brand name na- tional clothing line, and four loft-style 2,500 s/f apart- ments above. A10 Capital structured its financing as a 2-year, floating
535 Broadway
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